I already owned one buy to let property. Now I am married I want to put the buy to let property in both mine & my wife's name. I am a higher rate tax payer and my wife has no income so we are remortgaging and putting my wifes name on deeds as Tenancy in Common. In order to maximise my wifes personal allowance we want to allocate the rental income as 1% to me & 99% to my wife. As such does the Tenancy in Common have to be split the same percentage as the Declaration of Trust in order to allocate the rental income? does the Declaration of trust have to be the same percentage as the HMRC form 17?
Finally I have 95k of equity in the property (value 170K) already if we allocate the shares as above do I keep the equity or is it split the same and do we have to pay CGT on the change?