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bigduckontax, Accountant
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If I inherit part of my parents main residence, thus becoming

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If I inherit part of my parents main residence, thus becoming my second property, on their first death but allow my surviving parent to live there rent free do I have an income tax liability on any 'deemed' rental income?

Hello, I'm Keith and happy to help you with your question.

In a word no, but you would be liable to Capital Gains Tax on any gain from the probate value on ultimate sale, subject to a plethora of rules which are really outside the scope of your original question; just be aware.

I do hope i have been of assistance.

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