Hi
I wonder if anyone can help. I recently visited a local non-property specialist tax accountant (I know, my fault!) to make a declaration under the HMRC Let campaign. I am trying to get my affairs update. I’m currently a 20% tax payer, and we rented out our formal home (in my sole name) in Nov 2014, when we purchased our new house. Since that date, my wife has no income as she has been at home looking after the children. The accountant that I instructed has started the process for the Let campaign and drafted my accounts, however, since then, it has come to light that I could have declared the interest in the rental property to my wife as she had no income.
As the accountant has not yet submitted the tax return I wanted to know if it’s possible to say that a declaration existed between myself and my wife and instead she completes a tax return?
I just want to make sure that I’m not losing out and paying tax when I there is an alternative option.
Thanks
Mez
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