Your Questions Answered: ‘My friend is in dire straits. Will she pay tax if I let her stay rent-free in a house I own?’
Plus, inheritance and gift tax, and selling the farm
Living in a property rent-free is a taxable benefit.Q I’ve been renting out an old house I own to a friend. But she’s now in bad financial straits and can no longer afford to pay rent. She’s become like one of the family and I can manage without the rent. Would there be any tax implications? Could she stay on as a caretaker?
