Wife's tax liability

  • Filter
  • Time
  • Show
Clear All
new posts

    Wife's tax liability

    I know variations on this question have been asked before, so will keep it brief.
    We jointly own a rental. My share of income needs declaring on tax return, no question.
    But my wife has no other income.
    Does she need to declare it, as it's well below her allowance. I've read that anything over £2500 has to be declared, is this the case?
    Does declare mean a full tax return or just a letter to HMRC?

    Just get her to register with HMRC for Self Assessment, she still needs to declare it.


      Your wife should tell HMRC about her new source of income.
      They will decide how she needs to report her income - it may be a self assessment return or it may be less formal.
      When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
      Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).


        Many thanks, have taken the self assessment route. It's a fairly simple process for such limited income declaration.


        Latest Activity


        • Stamp duty when changing the beneficial interest share
          My wife and I have a joint buy to let property, where the beneficial interest is split 50/50 and where we're both on the mortgage which is £210,000.

          As she isn't working at the moment and I'm a higher rate tax payer we want to switch the beneficial interest so she has 99% and I have 1%...
          22-09-2019, 22:40 PM
        • Reply to Stamp duty when changing the beneficial interest share
          To add: The jointly and severally liability bit -- is not relevant to anything here. All that has to do with is who mortgage company can sue for repayment of the whole (one or both) when things go wrong.
          It has to do with the liability for the loan - not ownership (in theory I can be liable to...
          23-09-2019, 09:38 AM
        • Reply to Stamp duty when changing the beneficial interest share
          - Stamp duty is not payable on gifts where not mortgaged
          - Stamp duty is payable on gifts where mortgaged (on the mortgaged part of the transfer)
          - The fact that transfer takes place via a Deed of Trust (which is the only way it can do) is totally irrelevant to the stamp duty position. The...
          23-09-2019, 09:18 AM
        • Reply to Stamp duty when changing the beneficial interest share
          Check if your 50/50 ownership at Land Registry is registered under "joint tenants" or "tenants in common" ?

          If it is "tenants in common", no change is required ( and no stamp duty to pay ) .

          Then you can change ratio to 99/1 by using...
          23-09-2019, 00:10 AM
        • Name off title deeds to remove tax liability
          I am a higher rate tax payer and my wife is not. I have removed myself from the mortgages of the two buy to let properties we have jointly owned and all the proceeds of the properties are now going into an account in my wife's name. Is this enough so I am no longer liable to pay tax on the income from...
          07-09-2019, 13:40 PM
        • Reply to Name off title deeds to remove tax liability
          It looks like I may have this wrong. It appears that the 3% surcharge may no longer be payable for spousal transfers, can anybody verify this?
          22-09-2019, 10:48 AM
        • Second payment on account
          Hello all,

          After paying my 2017/18 tax bill I was asked to pay the first payment on account for 2018/19. The first payment was due by the 31st July 2019. This payment goes towards my future tax bill.

          I paid that money owed by the deadline but it hasn’t reduced my 2018/19...
          02-08-2019, 05:58 AM
        • Reply to Second payment on account
          I telephoned HMRC... they said usually the amounts are worked out automatically but there had been issues with some accounts because payments on account hadn’t been generated correctly by them

          thanks for all the assistance...
          17-09-2019, 19:46 PM
        • Reply to Second payment on account
          If you make your tax return online, then you can check the "statement " section showing your payments made to tax office against your own bank statements.
          17-09-2019, 00:01 AM
        • Reply to Second payment on account
          There’s me thinking it’s called self assessment...
          16-09-2019, 19:28 PM