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Where Taxpayers and Advisers Meet

Husband and wife rental income

rose_M56789
Posts:3
Joined:Wed Aug 06, 2008 3:22 pm
Husband and wife rental income

Postby rose_M56789 » Tue Sep 10, 2024 7:28 am

Is rental income taxable at 50/50 for married couples if wife is not shown on deeds,No mortgage. thanks for help and advice

pawncob
Posts:5154
Joined:Wed Aug 06, 2008 4:06 pm
Location:West Sussex

Re: Husband and wife rental income

Postby pawncob » Tue Sep 10, 2024 9:05 am

https://www.gov.uk/government/publications/income-tax-declaration-of-beneficial-interests-in-joint-property-and-income-17
With a pinch of salt take what I say, but don't exceed your RDA

rose_M56789
Posts:3
Joined:Wed Aug 06, 2008 3:22 pm

Re: Husband and wife rental income

Postby rose_M56789 » Tue Sep 10, 2024 12:11 pm

Thank you for link but wife is not shown on deeds, will this exclude her from having the income.

AGoodman
Posts:1848
Joined:Fri May 16, 2014 3:47 pm

Re: Husband and wife rental income

Postby AGoodman » Tue Sep 10, 2024 3:50 pm

If she has no interest in the property then she cannot be considered the owner of the income.

The link pawncob included describes declarations of trust - you could declare that while you are the sole legal owner, you hold that title on trust for you and your wife. You would then be joint "beneficial" owners and could be considered 50/50 taxable on the rental income.

You would also have to register the trust with the Trust Registration Service as you are not also joint legal/registered owners.


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