Just wondering if someone can point me in the right direction....i own a home in the UK which my mum lives in, she pays no rent to me (retired) and i have a very small mortgage which i pay around 1500 pounds a year for. My mum pays any other bills including maintenance from her pension, i literally just have my name on the deeds. Do i need to be paying tax of any kind here on it ? i get no income from it whatsoever (i make a 1500 pounds loss per year) and it is actually a drain on me if i am honest living in Sydney........i am actually wondering if i could use its capital to buy a home here......'thinking out loud' ?
UK House but not rented out.....do i pay tax here ?
in Money & Finance
Posted
Hi All,
Just wondering if someone can point me in the right direction....i own a home in the UK which my mum lives in, she pays no rent to me (retired) and i have a very small mortgage which i pay around 1500 pounds a year for. My mum pays any other bills including maintenance from her pension, i literally just have my name on the deeds. Do i need to be paying tax of any kind here on it ? i get no income from it whatsoever (i make a 1500 pounds loss per year) and it is actually a drain on me if i am honest living in Sydney........i am actually wondering if i could use its capital to buy a home here......'thinking out loud' ?
Thanks in advance