Property Income

[Sarahpppppppp]

Hi I wonder if anyone can help please?
My two sons own rental properties of which brings in monthly incomes. They both have decided that they wish for myself and my wife to have the income as they are both in a good position at the moment and wish to give something back to us. This already gets paid into our bank account monthly so the question is, is it legal for my wife and myself to declare the income on our tax returns and pay the tax liable even though the properties are not in me or my wife's name?
I have taken advice from a couple of people who both say different things so we are none the wiser but just want to get it right
Thanks

[bd6759]

The income belongs to your sons and they should pay tax on it.

They kindly give some money to you, but that does not make you liable to the tax on it. I regularly give money to my grandchildren. That doesnt mean I avoid tax on it and they pay tax on it.

[AdamS93]

There are ways to move income from one person to another and it involves changing the beneficial ownership of the properties in question.

This will involve a declaration of trust. This will have all sorts of tax issues from SDLT, CGT and IHT...

Without further information it is impossible to give any meaningful advice. Therefore, the best advice I can give is to go and see a local tax adviser.