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Topics Statistics Last Post
Helvie
Question regarding upgrades in flat for tax relief by Helvie
Started by Helvie, 05-08-2018, 13:03 PM
7 responses
145 views
0 likes
 Last Post jpkeates
by jpkeates
21-08-2018, 12:20 PM  
Landlord2015
Seeking a professional tax expert please by Landlord2015
Started by Landlord2015, 20-08-2018, 12:26 PM
0 responses
69 views
0 likes
 Last Post Landlord2015
by Landlord2015
20-08-2018, 12:26 PM  
JazzApples
Let Property Campaign and past experience by JazzApples
Started by JazzApples, 17-08-2018, 16:19 PM
12 responses
787 views
0 likes
 Last Post Gordon999
by Gordon999
19-08-2018, 11:08 AM  
Juliaabc
Becoming self employed to become your tenant's gardener? by Juliaabc
Started by Juliaabc, 14-08-2018, 16:03 PM
11 responses
183 views
0 likes
 Last Post jpkeates
by jpkeates
18-08-2018, 08:16 AM  
splodge2001
CGT Holiday rental by splodge2001
Started by splodge2001, 17-08-2018, 13:16 PM
1 response
50 views
0 likes
 Last Post Gordon999
by Gordon999
17-08-2018, 19:11 PM  
Always Problems
Capital Gains Tax by Always Problems
Started by Always Problems, 16-08-2018, 11:41 AM
1 response
89 views
0 likes
 Last Post Gordon999
by Gordon999
16-08-2018, 11:59 AM  
Tnpn
Gas safe invoice lists work as non-taxable item by Tnpn
Started by Tnpn, 08-08-2018, 17:13 PM
3 responses
116 views
0 likes
 Last Post theartfullodger
by theartfullodger
15-08-2018, 10:30 AM  
Rickster1978
First time BTL - Questions about tax deductible items by Rickster1978
Started by Rickster1978, 12-08-2018, 15:54 PM
4 responses
163 views
0 likes
 Last Post Gordon999
by Gordon999
13-08-2018, 13:26 PM  
Berlingogirl
btl mtg tax relief cancellation and student finance by Berlingogirl
Started by Berlingogirl, 09-08-2018, 18:27 PM
9 responses
94 views
0 likes
 Last Post Kape65
by Kape65
11-08-2018, 20:49 PM  
Helvie
Anyone recommend a property specialist accountant in Aberdeenshire by Helvie
Started by Helvie, 05-08-2018, 13:22 PM
4 responses
54 views
0 likes
 Last Post jpkeates
by jpkeates
06-08-2018, 11:21 AM  
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  • Adding wife to BTL property
    ringzer
    In 2005 I bought a BTL property in London with an outstanding mortgage of ~£150,000 and a current market value of ~ £500,000. The apartment has never been lived in by me and my name alone is on the title deeds and mortgage.

    I would like to add my wife to the property, either 1) title...
    18-02-2019, 17:37 PM
  • Reply to Adding wife to BTL property
    Kape65
    Okay I can see the image now, however that is just asking how ownership is changing, it doesn't say they will allow it!
    20-02-2019, 17:23 PM
  • Reply to Adding wife to BTL property
    Kape65
    I don't seem to be able to view the image re option 1. I'm keen to know if it is possible to split ownership with wife without adding her to the mortgage.
    20-02-2019, 17:19 PM
  • Reply to Adding wife to BTL property
    jpkeates
    Option 2
    If your wife isn't on the mortgage, the transfer is a gift and there's no consideration and no SDLT.
    The gain from the point of transfer would be split.

    If there's no saving of income tax, there's no saving other than the CGT allowance (assuming there aren't any changes...
    20-02-2019, 12:24 PM
  • Reply to Adding wife to BTL property
    Kape65
    You're right, I remember that post. I agree that it's possible to do it but I feel if HMRC did take the time to view it then it could be classed as fraudulent, evading stamp duty and income tax.
    19-02-2019, 17:00 PM
  • Reply to Adding wife to BTL property
    jpkeates
    Beneficial ownership is a can of worms and HMRC aren't in any position to dispute what a married couple assert to be how they want to split the beneficial ownership, regardless of title.

    Someone posted on here a while back, and I made pretty much the same point (which was that the deed...
    19-02-2019, 16:35 PM
  • Reply to Adding wife to BTL property
    Kape65
    I always believed that a DOT was used because normal ownership of tenant in common property was automatically registered as 50/50 split when the true ownership may have been different i.e wife has put more money in or such. Surely to transfer a percentage to your wife and then use a DOT to claim that...
    19-02-2019, 15:24 PM
  • Reply to Adding wife to BTL property
    jpkeates
    Where property is owned as tenancy in common, the default presumption is that each tenant owns the property in equal proportions.
    But that doesn't have to be the case, the ownership can be shared in specified proportions, so 1% and 99%, or 60%:40% are possible.

    That split would normally...
    19-02-2019, 13:51 PM
  • Reply to Adding wife to BTL property
    Gordon999
    I think the solicitor may arrange a sale contract of 25% share in property from H ( seller ) to W ( Buyer ) at Nil price . but the Tax Office will say the consideration is 25% of mortgage loan for calculation the sdlt to pay.

    After the property is registered under the names of H&W (...
    19-02-2019, 13:30 PM
  • Reply to Adding wife to BTL property
    Kape65
    Is this possible (genuine question)? I understand the tenants in common bit but I thought you then needed a declaration of trust in order to change the proportions....
    19-02-2019, 13:04 PM
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