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Sam
Sam, Accountant
Category: Tax
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Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
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Hello I want to help a friend to pay off her mortgage &

Customer Question

Hello

I want to help a friend to pay off her mortgage & she then wants to rent out her house so I can be paid back over a 7year period.

Where do we both stand on the tax situation?

Many thanks

Margaret
Submitted: 4 years ago.
Category: Tax
Expert:  taxadvisor.uk replied 4 years ago.

Hello, if you have any questions or need further clarification after reading my answer please let me know.

 

Thank you for your question...

 

Are you proposing to give her a loan? If so, will it carry any interest or will it be interest free loan?

 

Will your friend continue to live in the property or will the whole property be let?

 

 

Many thanks