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Share rental income on BTL property solely owned

Share rental income with spouse for a BTL property solely owned by me without changing title

I own a BTL property with the full rental income allocated against me. I would like to share the rental income with my wife without having to share the title or involving her in the mortgage. This is to reflect what really happens with the income and for tax efficiency as she is a basic rate tax payer and I tend to go over to the higher bracket more often. Is this something I can do myself and how  or shoudl I be employing a solicitor/accountant.

Thanks

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11th Feb 2019 11:16

I would suggest you need advice from an accountant who understands property tax.

Then again I am somewhat biased.

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11th Feb 2019 13:52

The share of rental income is the same as the ownership %
Also the mortgage company would need to approve any transfer of ownership

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