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Hi and thanks for the welcome, I posted this in housing and I hope that was the correct place?
A few years ago I was gifted/inherited a house under the 7 year rule. The house is rented out and my father keeps the income but I am paying the tax on it. No money passes or has ever passed or transacted through me and there is no lease in my name. Can anyone tell me if there is a way for me to get out of this arrangement? I have until now signed UK tax returns but I no longer want to. Is it a case that because I own the house I must declare and pay the taxes? Any help would be greatly appreciated. Thank you.
A few years ago I was gifted/inherited a house under the 7 year rule. The house is rented out and my father keeps the income but I am paying the tax on it. No money passes or has ever passed or transacted through me and there is no lease in my name. Can anyone tell me if there is a way for me to get out of this arrangement? I have until now signed UK tax returns but I no longer want to. Is it a case that because I own the house I must declare and pay the taxes? Any help would be greatly appreciated. Thank you.
