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Where Taxpayers and Advisers Meet
Sharing tax responsiblity with non-earning partner
Hello, I bought a flat before I married and the deeds and mortgage are both in my name. I am the sole earner and my wife pays voluntary NI contributions. We would like to benefit from her tax status with regards to the flat. What is the best way to do this? I've been told that the only way is for her to go on both the deeds and the mortgage, which we're happy to do, but I'm wondering if there's an easier, and less costly, way. Thank you for your help
Re: Sharing tax responsiblity with non-earning partner
A beneficial interest in a property doesn't necessarily reflect the legal title. You may be able to simply gift a % beneficial ownership to her. There are no tax consequences of gifts between spouses.
You should take advice before proceeding, though.
You should take advice before proceeding, though.
