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Joint Tenants And Paying Tax Advice

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Hi there

Me and wife have recently bought a property, we own the property jointly, no mortgage on i and will be renting it out shortly. Currently my wife is not working and i want my wife to be responsible for the rent aspects and receive the full rent, can i inform HMRC to tell them this and can her PAYE allowances be used againsnt the rent received or will it have to be 50/50?



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I dont think you can allocate the rent to her.

You would have to transfer the property to her name without any conditions attached to avoid paying tax according to the HMRC website.

Example 4 - outright gift

X owns a property that is let at a commercial rent to an unconnected third party. X transfers the property by outright gift to his spouse Y who then receives the rents. X has no further interest in or rights over the property. The rents that Y receives are not subject to the Settlements legislation. They are Y’s income for tax purposes.

Example 4a - no outright gift

The facts are as in example 4 but the gift is subject to an agreement under which X can require his spouse to return the property to him at a future date. This is a gift with conditions and there are circumstances in which the gifted property may return to the giver so it is not an outright gift. The rents that Y receives are subject to the Settlements legislation. They are X’s income for tax purposes.


Edited by MonkeyNuts
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You would be well advised to make an appointment and discuss your situation with a tax advisor. There is no substitute for taking proper professional advice rather than relying on anonymous advice that may or may not be correct. Particularly where you have no right of redress against the provider of the advice.

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