Cgt

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Cgt

    Next April I am looking to sale a property which has no mortgage and has been in my name since I bought it, how do I go about adding my wife to it to use her allowances and any pitfalls I should be aware of
    Cheers


    #2
    How? You pay a conveyancer/solicitor to split the title between the two of you.

    Pitfalls? Your wife will own the property and be entitled to half the proceeds.
    If you receive any rent she'll have to report the income and pay tax on that.
    If there's a tenant there when the change happens, you have to tell them within a short period in writing otherwise you commit a criminal offence (that I can find no evidence of ever being prosecuted).

    But the solicitor / conveyance should tell you all of that.
    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).

    Comment


      #3
      I am planning on moving the tenant to another property 🤞so there won't be tax on rent issue for her and using the money to buy a new property, I will defo use a solicitor.
      Thanks

      Comment

      Latest Activity

      Collapse

      Working...
      X