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  • Tax

    Income Tax and spouse question

    Your wife should buy the property (or if you prefer buy as tenants in common and do a declaration of trust and notify HMRC correctly that she will be entitled to all the income). You then have the option in the future of forming a partnership.

    And go and amend you last tax return and get a refund of the tax you paid.

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    Chartered Accountant, Tax Advisor and Mortgage broker

    (and BTL portfolio owner)

    stuart@johnsonsca.com

    02039077022


    I will go back to HMRC for refund . Much appreciate it .

    As i said I only can buy the 2nd property if i would on my sole name .

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    I cant include my wife in a joined name ownership . This not an option for me


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    If your wife does not own a share of the property and she is managing it (and finding tenants), then it is likely she will need to join a redress scheme as either a management agent or a lettings agent.

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