my husband has a property which was bought purely as a BTL (purchase price 165k). the mortage (approx 132k) is also in his name only.
i understand that we may be able to do a "transfer of equity" in order to put 50% of the property in my name so that if at some point in the future we sell then we can benefit from both our CGT allowance. property's current value is approx 275k.
are there any other tax implications we should be aware of? eg should we have a joint mortage rather than it still being in his name (so my 50% of rental income is offset against 50% of mortage interest)? are there any stamp duty implications 1) we keep mortage in his name or 2) change to joint mortage?
we are unlikely to sell in the near future but is there an "acceptable" time limit for HMRC between effecting the transfer and selling the property?
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