Options on 2nd Property

[Jp123]

Hi

Firstly apologies in posting a similar topic which has been discussed in depth but I could really do with some advice around my current situation and having read through a number of posts it doesn't quite answer the questions I have..

I currently own a property which was on a residential mortgage and was on consent to let, the mortgage on this is now up and will be moved to a BTL mortgage. I am now looking to buy a second property for myself and my partner as a home to live in, we are currently not married but will be in July - the aim is to complete prior to marriage. With the new tax rules enforced by the government I wanted to seek some advice around the best approach to the following questions:

Question 1 - I am aware that I will incur a "double" stamp duty rise due to buying the second property am I right in believing this can be claimed back if I sell property 1 before 3 years of completing property 2? (Despite it being on rent in the meantime)

Question 2 - With interest no longer being something we can offset tax with and being a higher banding tax payer due to my salary is there a way to shift the tax incurred on the property to my partner after marriage as she is in the lower tax bracket? My partner as no affiliation with property 1 i.e. She is not on the deeds or mortgage. Can this be done? If so how and what should I look at?

Question 3 - Should I consider putting the property through a business if the answers to question 2 is not suitable, assuming the property rental income is £800 with £400 profit after interest (simple maths) on a higher tax banding.

Any advice would be helpful!

Again apologies I know there is a number of posts on the above

Thanks

JP

[maths]

Q1 Yes.

Q2 You could execute a declaration of trust giving your wife an appropriate % of the property (this should help mitigate tax on rental income and on any future sale re CGT).