nominal rent from son

[Delta]

Looking for some advice, I own two apartments, and have previously declared the income from both apartments. My son now lives in one of the apartments and only pays a small amount of rent. Does anyone know the implications if I declare or omit to declare this rental income. The other apartment will be declared as usual.

 

[papervalue]

may be worth continue to declare- if the income is less than expenses such as mortgage interest the loss can be offset against the other property. at a tax inspection they are entitled to look at private bank stat- want to knew about these lodgements. if proper relationship of lanlord tenant-son should be able to claim tax credit .

 

[ClubMan]

Read the posting guidelines. Post in the correct forum.