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Oct, 2014

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  1. #1
    Join Date
    Dec 2010
    Posts
    136

    Default BTL and partner tax efficiency

    Hi all

    I've been reading up on this via previous threads, but would appreciate some advice.

    I own a property in my sole name with a mortgage in my sole name.

    I pay 40pc tax and the mrs (un married) pays 20pc. This would be 0pc if we have children.

    I don't want to get married ever (don't ask, it's a personal thing!), but I would like to know if, despite the above, I can simply transfer 1pc to her and then she can get 100 pc of the rent.

    I would of course set up a new bank account for her in her name for the rent and to pay expenses, but would the interest be allowable if the mortgage is purely in my name and coming out of my bank account??

    I'm an accountant, but I hate personal tax!!

    Thanks in advance

    BB

  2. #2
    Join Date
    Dec 2010
    Posts
    136

    Default

    Anyone?

    My key issue is the interest issue - I think I've worked out the other bits from a couple of current threads.

    Cheers!

  3. #3

    Default

    Morning,

    Loads of up to date and related information here:

    http://www.hmrc.gov.uk/manuals/pimmanual/

  4. #4
    Join Date
    Dec 2010
    Posts
    136

    Default

    Thanks, there is indeed a lot of good stuff in there.

    However, I cannot see what I do with the interest if it's in my name or in a joint name.

    Is the presumption that the costs follow the income?

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