I am buying a house and want to use my two sons savings as part of the cash purchase . The reason being to give them a better rate of return on investment than the existing building society interest rates.Their share is 20% of the capital house. The house will be let to provide them income.
As one is 14 his interest in the property cannot be recorded on the deeds (The other is 18) so it is suggested I buy the property in my name only and have a trust deed drawn up to register their equity interest.
Will the Tax office allow them their capital gain allowance on the house when it is sold if there is a only a deed?
Can I allow them all the income or will it be taxed as my income because I am the sole name on the deed?
Please help
Lynnette

Optional Information:
System of Law: England-and-Wales

Already Tried:
Solicitors cant advise on tax.