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Posted Wed, 05 Jun 2024 20:44:07 GMT by Alex
Hi, I've a question would like to know. If Grandparents bought house for their grandson/grand-daughter, but the people that actually live in the house are the grandparents. Of course, grandparents are not paying any rental to grandson/grand-daughter. Any tax related issue that I need to be aware of? I heard something about rental or maintaince charge that may affect? Thanks!
Posted Fri, 07 Jun 2024 14:34:01 GMT by HMRC Admin 32 Response
Hi,

It will only be when the property is sold as there will be capital gains to pay as the grandson or grandaughter have not lived in the property as their man residence.

Thank you.

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