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Posted Thu, 27 Jul 2023 08:25:27 GMT by
hi I have a property co-owned by my father in another country. I moved to UK for almost a year now so please may I ask if I have to pay income tax from this property. the scenario is that the property is co-owned 50-50 share by me and my father but all the income and expenses are done and recorded in his personal account. the income has never transferred to me in uk and he has no intention of doing so as it is agreed as part of his self-created pension. so please kindly let me know if I have to pay tax as it seems unfair to me. thank you so much for the answers
Posted Tue, 01 Aug 2023 13:37:51 GMT by HMRC Admin 10 Response
Hi
Thank you for your question.
You do not have to declare and pay tax on the income from this property if it is all received by your father.  
You may wish to note, however, that if the property is disposed of in future you may incur a liability to Capital Gains Tax on any gain arising on the disposal of your share of the property.

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