Income from property rental

I want my son to rent out a second home I own as his own business. I want the rental income to go to him so he will pay the income tax on the rental income received . Is this allowable when the ownership of he property is in my name or would I have to pay the tax on the rental income ?

Hi ,
 

Thank you for your question. For you and your son to benefit from the income generated from your second home, he must have a beneficial interest in the property. Therefore, you both will be required to submit a Deed of Trust signed and witnessed accordingly to HMRC. Further information can be found at : PIM1030 - Introduction: jointly owned property & partnerships  . Thank you .

Just for clarity the deed of trust is not assigning any ownership of the property to my son so I assume I will not be eligible for any capital gains tax?

Hi,
Thank you for your question. Capital gains tax would be liable on the legal owner of the property. Please refer to
Tax when you sell property: What you pay it on
Thank you