Making wife the beneficiary owner of the property

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    #16
    That is all extremely helpful - thank you lawcruncher.

    I presume that entering the restriction that "no disposition under which capital money arises is to be registered without a court... (rest of your paragraph)" can be implemented without any recourse to B/cooperation of B at all - otherwise it would be a fairly unusable protection?

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      #17
      When a disposition to joint proprietors is registered you have to say if the property is held as joint tenants or tenants-in-common. If it is the latter the restriction is entered. The surviving tenant-in-common cannot get the restriction removed without supplying to HMLR evidence that he is entitled to the whole. If no restriction is entered on a severance of a joint tenancy any beneficiary can get the restriction entered on satisfying HMLR that there has been a severance.

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        #18
        If OP moves overseas for more than one year and becomes non-resident, the job income is taxed in the country of new residence.

        Therefore the rental profit from letting of mortgaged property in UK may be covered by the personal allowance of £11,800 ( assuming you hold a UK passport. ) .

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          #19
          A well drafted double taxation arrangement would result in the tax not collected in the UK being collected in the country of domicile.

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            #20
            I'm not an expert but I believe Land Registry are not interested in the percentage of ownership, only if it's owned by joint tenants or tenants in common.

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              #21
              In the example quoted for A and B named as t-i-c on the property title , A would be registered as A ( Trustee for C&D Trust ).

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                #22
                I am currently in the same situation except that I am in the UK, I have moved from England to Scotland. Can I open a company in my wife's name as a property management firm and move all the profit in her name?

                Appreciate your help

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                  #23
                  pkapdi,

                  To get the right answer, your question should be put to a taxation accountant in Scotland.

                  A management company can charge 10-15% management fee, not 100% management fee .

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