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Rental Income - Using your childrens personal allowance


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Hi Guys,

 

This might be a specialist for a forum and of course will take independent advice before attempting but has anyone every purchased a BTL property but had the Rental Income assigned to their children?

 

As i understand it children cannot hold property in their own name but what about the rental income? is there anyway of assigning the income to them (and thus using their tax free personal allowance?)

 

just wondered if anyone has any experience of the above.

 

Thanks

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  • 2 weeks later...

No experience but had discussed with accountant. Children uder 12 can be put on the title, income can be assigned to them, but you still get lumbered with the full tax as they are not adult and you have controlled of their account. Not sure what happen if you put into their trust, as they get access when they are 18.

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