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Property Rental share transfer

Are there any problems to be aware of if a husband transfers his half of there property rental income to his wife as he is a higher rate tax payer? What forms would require to be completed.

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By ACDWebb
03rd Apr 2012 11:50

Unless beneficial ownership is other than 50:50

or is properly adjusted, AND a Form 17 submitted the split will be 50:50.

On a change of bebeficial ownership the split for tax purposes is only valid once the Form 17 is submitted to HMRC

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04th Apr 2012 08:38

This requires a robust Declaration of Trust defining the beneficial ownership and a Form 17 submitted to HMRC. Have the couple ever lived in the property, if so were thay both owners at the time. Regards Peter

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