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  • Buy-to-Let

    BTL tax advice

    Dear all

    My wife and I jointly own three properties that I rent out with a total mortgage debt of 70K. We are about to get our first BTL mortgage on a property agreed at 76K.

    I am in the higher tax bracket with a salary over 50K. My wife works part time earning 20k per annum.

    Would it be more beneficial from a tax point of view for my wife to purchase this property in her name only for tax reasons? The mortgage company said she would qualify on her own.

    All advice welcome

    Thanks

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    Buy it jointly and transfer 100% beneficiary to your wife. And before you sell it in the future, alter the beneficiary to 50% again for CGT purposes.

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