I bought a house three years ago, was a first time buyer and the mortgage is in my name only.
My boyfriend will be moving in with me shortly.
He hopes to buy a property himself in the next year or so, and wants to retain his first time buyer status.
I understand that he could have a 'beneficial interest' in my home in the event that we marry, however he would be the sole purchaser of a new property in his name and would not be using any funds from me.
So should I go down the rent-a-room scheme when he moves in to my house?
I understand I can receive up to 10,000 per tax year tax-free. Do we need to draw up an agreement? Do I need receipt of his rent for revenue?