If a child is gifted half of a property by a parents and said parent still lives in the house am I correct in saying that rent should be paid? How does one establish market rent? The other half is owned by the other parent who still lives in the house too. Am I right in saying that 50% of full rent ...

Hi,

For someone that earns 30k a year on a payee basis how much extra can he earn before having to pay 40% tax, for example through rental income?

I am confused by the allowance concept. Someone told me you can earn up to 42500 but I read that 35k is the treshold for 40% tax.

many thanks

Thanks maths. So if hmrc class them as non uk dom they are only liable to uk iht on uk assets. If they class them as both uk doms then worldwide assets are included in iht BUT the nil band rate would be 650k. My worry was that hmrc could pull a fast one on first death and say that one is non uk dom ...

More detail:

Husband is italian born in Italy.
Mother is dual national british italian but born in the uk

Hello, I have a specific question on the dom status of my parents. I understand that the dom issue is complicated however I would like to know if one spouse can be considered uk domiciled and the other non uk domiciled for iht purposes even if the marriage is pre 1974. I have read somewhere that the...

1) If a spouse is non dom and the other one isn't am I correct in saying that only 325k + 55k is iht is the nil band rate passed onto the other spouse?

2) if the non dom spouse has assets abroad and he dies, is he liable to uk iht?

Thanks

Hello,

If a parents gifts some money to a son who is setting up a small property business (ie. buying and letting out a couple of houses) would this money be subject to IHT should the donor pass away before the seven years have expired.

The property company would be a LTD company.

Regards,

my father is in a similar position as the OP however as far as the italian authorities go he is still resident there for fiscal purposes. My father has only recently come to live here ie. beginning of 2010 and he would like to file a tax return however is intention is to claim dual residency, he wou...

Hello,

I am after the double taxation treaty info between italy and uk.
I have searched on the hmrc site but it does not come up.

Is there anywhere online where I can find this on its entirety?

Many thanks

thanks for your help maths. I am having a difficult time gathering all the info needed to make sure my parents are filing the right stuff. I should clarify further my mum's position with regards to R85. She has a bank account here in the uk and the assets abroad are all in my dad's name. She would b...