Question: Can I receive rents if I don’t own the property?
Can my rental property be gifted to my child and the rental benefits still be paid to myself for my lifetime?
Arthur Weller replies:
Answer: You can certainly gift your rental property to your child. But the rental income will belong to them, and they will pay income tax on its receipt; see HMRC’s Trusts and Estates manual at www.gov.uk/hmrc-internal-manuals/trusts-settlements-and-estates-manual/tsem9310. If afterwards they choose to gift to you the money they receive from renting out the property, that is a purely a gift from them to you.