Transfer of share of property to partner for tax purposes

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    #1

    Transfer of share of property to partner for tax purposes

    Hi all

    I have a BTL property solely in my name, I'm also a 40% tax payer. I'm looking to make changes so I can avoid paying as much tax on the property.

    I currently live with my fiancee and we are due to get married next June. What would be the best option to offset the tax to my partner as she works part time and is just in the 20% tax bracket.

    I've spoke to a solicitor regarding a transfer of equity who has advised there won't be any stamp duty to pay as the mortgage is under 80k but I've also read bits on a deceleration of trust?

    I'm after abit of advice which is the best way to go.

    Thanks in advance for your replys.
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    #2
    An accountant more helpful than a solicitor. You could add her as a party on the mortgage and then make a declaration of beneficial interests in joint property and income (form 17) giving your partner the lion share of the income

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