Do I still pay tax if I am renting to a family member?

Question I am renting a property to a family member at below market value. Am I still liable to pay income tax on any rental profits and CGT when I sell the property? Are there not any family relief’s that I can use?

Ian Says:
Renting a property at below market value to a family member has no effect for capital gains tax purposes- you will still be liable for it when you sell the property.

Also, properties not rented out at a normal commercial rate must be kept separate when calculating income for tax purposes- the loss cannot be offset against other rental profits, only profits from that same property.

There are no family relief’s available- dependent relative relief was scrapped for new properties in around 1988.