I do intend to seek professional advice on this matter but in general terms has anybody any experience or advice of the following scenario
Buy a house now with a view to child ( currently a
Minor ) having it as their resident in approximately 10 to 12 years time.
Nothing very fancy, perhaps a 3 bed semi, which would be rented out in the meantime.
Presumably ( subject to advice ) in the child’s name now but held in trust for the child until whatever age is decided for the formal hand over .
How do annual tax. Returns fare out in comparison to a normal buy to rent ....????
Any general advice from anybody with experience in this are appreciated before we go to get formal advice etc
Thank you
Buy a house now with a view to child ( currently a
Minor ) having it as their resident in approximately 10 to 12 years time.
Nothing very fancy, perhaps a 3 bed semi, which would be rented out in the meantime.
Presumably ( subject to advice ) in the child’s name now but held in trust for the child until whatever age is decided for the formal hand over .
How do annual tax. Returns fare out in comparison to a normal buy to rent ....????
Any general advice from anybody with experience in this are appreciated before we go to get formal advice etc
Thank you