X

Sign Up

or

By signing up I agree to Property Tribes Terms and Conditions


Already a PT member? Log In

Sign Up

Sign Up With Facebook, Twitter, or Google

or


By signing up, I agree to Property Tribes Terms and Conditions


Already a PT member? Log In

Log In

or


Don't have an account? Sign Up

Forgot Password

To reset your password just enter the email address you registered with and we'll send you a link to access a new password.


Already a PT member? Log In

Don't have an account? Sign Up

  • Tax

    Management by landlord or spouse for tax

    Hello all ,

    I have a question that i am sure some other people had in mind as well .

    Can we set wages to our-self or spouse to set it against our income tax from the property ?

    I understand it may not make sense if we set to our self as we may need to pay tax on those wages for our self .  Any other ideas ? or spouse maybe as my wife doesn't work at the moment .

    Hope we could discuss that in light of most up to date tax rules, for everybody's benefit ...

    0
    0

    She needs an interest in the property. Or to be a sole trader?

    0
    0

    Chartered Accountant, Tax Advisor and Mortgage broker

    (and BTL portfolio owner)

    stuart@johnsonsca.com

    02039077022

    She does not have any interest in the property but maybe a sole trader ?

    Does she need to set a company or self employed  or ... ?


    0
    0

    If your spouse has no other income whatsoever, then to show as a deduction an amount up, perhaps, £8000 per annum, on the basis that she actually does something for the ‘business ‘, such as keeping the records and paperwork in order, would be allowable.

    0
    0

    Thank you very much for the reply. Its highly appreciated.


    No, my wife has no income as she s not working now.

    Do i need to set a company for myself or register my wife as self employed ?


    I would be very grateful for your help .


    Many thanks

    0
    0