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A client has asked his nephew to mind and live for free in his apartment, the client is is not charging his nephew rent.
Is the client liable to income tax (on notional rent) even though he received no rent?
Can the client de-register for income tax as he is no longer in receipt of any other rental income and only has PAYE income?
My understanding is that the nephew is liable to gift tax on the free use of the apartment, even though he is minding the apartment for his uncle.
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Posted by (Questions: 153, Answers: 11)
Asked on 6 October 2018 2:25 pm
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