Client and spouse own a property and rent to a couple. Could they use the first e12,000 paid (2 renters x 2 beneficiaries, joint bank accounts used for payments) to reduce the amount of rent that is taxable.(Gifts in both directions).
Additionally, could some of the surplus” rent ” over e12,000 be paid to their child/children as a gift? Would this have “free use of property” implications as child is not a legal owner of the properrty but the tenant is paying something, be it a gift, for use of the property?