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Accidental landlord - ought to I rent or sell? Sister has proposed and mum (eighty two yo) has agreed to promote her resi to my sister for 50% of its value gifting her the other 50% of its worth as "pre inheritance " and in turn giving me the cash as my half of the "pre inheritance". Question about gifting - Annual Tax free Allowance and PET's I wonder if anybody can assist me answer this question? I have an unused Annual Tax Free Allowance of £3,000 from the final tax year which I can carry forward and use on this tax yr making £6.000 in Total. Ok, so I do not know the answer and need some help. The financial institution have given me consent to let for upto 12 months, however my mortgage term will finish in the summer of 25.. at which point, I might want to look for a buy to let deal with another provider. When I was 19 my mother and father pressured me in to taking out a joint mortgage with my mom to purchase a house as my dad had debt and wouldn’t be accepted. I have earnt £6.000 in renting out my house.
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