Shelter’s Income and expenditure figures highlighted13:57 PM, 4th February 2019
About 3 weeks ago 35
I would be grateful for any advice you can give me. My husband and I own a small property portfolio jointly 50/50. I am employed, but he is not.
My rental income plus earned income puts me into the higher rate tax bracket. We had very low expenses this year and consequently we are facing a very large tax bill.
Thanks to a consultation with Mark we will apportion the beneficial interest in the properties 70/30. However I would like to reduce the tax bill for the 17/18 tax year.
My question is can we pay expenses in advance e.g. Utility bills? Obviously we would not claim these next year, but our situation will have eased with the change to beneficial ownership.
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