Deduction of mortgage interest

Deduction of mortgage interest

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I gifted my UK based property to my spouse @ 50% without transferring mortgage liability. I already paid mortgage interest since many years. So in mortgage statement only my name is mentioned. So can my wife take deduction benefit of mortgage interest in her tax return?

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By JCresswellTax
20th Apr 2016 16:41

I think you already know the answer....

It starts with an 'N' and ends in a 'O'.

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By chewmac
20th Apr 2016 20:58

Declaration of Trust
How was gift made? If made via Declaration of Trust is not the property and mortgage under trust by him for her?

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