Allowing family members to live in property without rent?Make Text Bigger
I was wondering what would be the status of a property that the owner allowed family members, ie adult offspring, siblings, or nephews/nieces, to live in without any commercial consideration? That is, with no rent payment.
I understand this would be a licence to occupy rather than a tenancy. How would the property be treated if the area were to fall under selective licensing at a later date?
Also, what would be the position with HMRC? Since the owner was not living in the property, I assume CGT would apply. However, since no rent was being paid what would HMRC’s position be on income?
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