I'm a non dom resident in the UK and my father who is a non UK resident asked me to help him rent his property in his country through a power of attorney. This power of attorney gives me the right to enter into contract, collect rent and open an account in my name solely to collect and deposit the rent throughout the duration of the lease. The deposited amount is to be transfered back to him when requested.
My question is, what tax implications would there be if he decides at the end of the lease to gift me some or all of this money?
If I decide to bring this gifted money in to the UK should I transfer it back to my father and then he transfers it into a new personal account in my name or could I take ownership of the rent account and bring money from there?
Thank You in advance
Maria
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