Shared rental Income

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C
Clavell
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My wife's mother gifted her house to her three children some twenty years ago. She has been paying a market rent which has been shared equally with my wife, her sister and brother. My wife and her brother now want all the rental income to go to the sister, as she needs the money. Am I correct in assuming that, alough ownership lies with the three children, this is acceptable to HMRC as long as the sister is liable for the whole income tax liability? Comments appreciated
27/09/2014 14:14

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