PLO Tax Implications? · Assets For Life Hub

PLO Tax Implications?

Hi all,

I have seen mention many times the strategy of using a PLO to take control of a property from an existing landlord, paying the mortgage and everything else, leaving them as though they no longer have a property.

However, what I would like to know is: what is the tax implications for said landlord if the property is in their own name? (Asking for a friend!)

My understanding is that even though they don't see any benefit, HMRC still considers the rent obtained as being their income. If this is true then it could put them in a tricky situation. However, it's quite likely that I've gotten this wrong.

Can anyone here clarify this for me with any authority?

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PLO Tax Implications?