Hi, if anyone can please help with my question, would be very much appreciated
I have one BTL property which has always been in my name only, deeds and Mortgage. Property value is approx £230k with a mortgage of approx £120k. My spouse is a very low earner but I am higher, so I want her to show all or most of the income for income tax purposes. I was planning to transfer the deeds and mortgage in both our names rather than just me.
I have read that if I do an equity transfer, with tenants in common with spouse at a higher %, then I don’t need to pay income or capital gains, as it’s a transfer to a spouse. However, I have read that it will trigger SDLT.
I was hoping to avoid paying the SDLT if I can. I have been researching and reading lots of ideas, like gifting to a spouse / paying off the mortgage so it’s below £40k / declaration of trust, etc. However, I just can’t seem to find the right solution for me. Can someone help? Let me know if you need any further information from me. Many thanks
- Home
-
Tax News
- Budgets and Autumn Statements
- Income Tax
- Business Tax
- PAYE and Payroll Taxes, National Insurance, NICs
- Company Taxation
- Savings & Investments, Pensions & Retirement
- Capital Gains Tax, CGT
- Property Taxation
- Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
- Tax Investigations & Enquiries
- VAT & Excise Duties
- Stamp Duty, Stamp Duty Land Tax, SDLT
- International Tax
- HMRC Administration, Practice and Methods
- Professionals in Practice & Industry
- General
- TaxationWeb
-
Tax Articles
- Budgets and Autumn Statements
- Income Tax
- Business Tax
- PAYE and Payroll Taxes, National Insurance, NICs
- Company Taxation
- Savings and Investments, Pensions and Retirement
- Capital Gains Tax, CGT
- Property Taxation
- Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
- Tax Investigations & Enquiries
- VAT & Excise Duties
- Stamp Duty, Stamp Duty Land Tax, SDLT
- International Tax
- HMRC Administration, Practice & Methods
- Professionals in Practice & Industry
- General
- Tax Tips
-
Tax Forum
- Income Tax
- Business Tax
- PAYE and Payroll Taxes, National Insurance, NICs
- Company Taxation
- Savings & Investments, Pensions & Retirement
- Capital Gains Tax, CGT
- Property Taxation
- Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
- Tax Investigations and Enquiries
- VAT & Excise Duties
- Stamp Duty, Stamp Duty Land Tax, SDLT
- International Tax
- HMRC Administration, Practices & Methods
- Professionals in Practice & Industry
- General
- Tax Jobs
- Get in Touch