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
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