Husband bought property and lived in as PPR.
Girlfriend moved in and contributed to mortgage but was never owner.
Husband married girlfriend and couple bout a new house together. Husband retained previous property and rented it out.
Husband is a higher rate tax payer, wife is basic rate tax payer.
How can the rental income manipulated in order to make use of the wifes BR allowance and reduce husbands 40% tax bill?
Does ownership of the property have to be transferred? If so is there any penalty to the husband on this?
Can wife recieve part of the rental profit without becoming an owner?