Hi
3 siblings inherited family hone following parents death.
Don't wish to sell, but will he used by grandchildren in coming years at college or working.
Thinking of charging a nominal monthly sum to allow a sinking fund for repairs etc - how would this work?
3 owners - could payment go into one account?
Is there tax liability to all
Would Rent a room scheme apply - or is that only in primary residence .
Any guidance/ advice appreciated
3 siblings inherited family hone following parents death.
Don't wish to sell, but will he used by grandchildren in coming years at college or working.
Thinking of charging a nominal monthly sum to allow a sinking fund for repairs etc - how would this work?
3 owners - could payment go into one account?
Is there tax liability to all
Would Rent a room scheme apply - or is that only in primary residence .
Any guidance/ advice appreciated