Guide To Setting Up A Property Partnership
9 years ago
Can I employ my wife to manage my properties?
9:32 AM, 13th December 2013, 12 years ago
34
Categories:
I own 6 BTL’s, all mortgaged, acquired over 12 years. They are all in my sole name. I employ local letting agents on a let only basis, managing the tenants myself.
I now struggle to manage them as well as I like due to time constraints /work commitments. My question is this; could I employ my wife to run them and pay her a salary / fee for this? She is unemployed after maternity leave and wishes to be a full time house wife but is willing to run and manage the 6 properties?
Net rental profits are around £6,000 per annum with me being a higher rate taxpayer.
Any advice welcome, thanks
Oliver
Comments
Have Your Say
Every day, landlords who want to influence policy and share real-world experience add their voice here. Your perspective helps keep the debate balanced.
Not a member yet? Join In Seconds
Login with
or
Previous Article
Lease Options, How Do They Work?Next Article
Landlord & Property Website Awards 2013
Comments: 1
4:09 PM, 10th December 2015, About 10 years ago
…Or another way is to find a property manager who provides support to self-managed landlords. **MODERATED – SELF PROMOTION – SEE HOUSE RULES **
We have seen many instances where the landlord employs a family member, talk to any decent accountant, they can help maximise your tax position.
Member Since March 2018 - Comments: 14
12:04 PM, 19th March 2018, About 8 years ago
Hi .
My wife owns a number of properties via her personal name and via ltd companies. i have (husband) been both employed by the company and as a employee (for properties in her own name) (paying NI and tax/registered with hmrc) during the last year managing the properties. I perform the same duties a letting agent charging 12% for full management would do.
Has anyone had any experience that my wife can use my wages as running cost for the company / expenses for the properties in her personal name. I am paid direct from the rental income stream
She works and has no time to manage the portfolio.
regards sam
Member Since March 2018 - Comments: 14
12:06 PM, 19th March 2018, About 8 years ago
Reply to the comment left by Gary Nock at 13/12/2013 – 11:32
Hi .
My wife owns a number of properties via her personal name and via ltd companies. i have (husband) been both employed by the company and as a employee (for properties in her own name) (paying NI and tax/registered with hmrc) during the last year managing the properties. I perform the same duties a letting agent charging 12% for full management would do.
Has anyone had any experience that my wife can use my wages as running cost for the company / expenses for the properties in her personal name.
She works and has no time to manage the portfolio.
regards sam
Member Since January 2011 - Comments: 12212 - Articles: 1408
12:14 PM, 19th March 2018, About 8 years ago
Reply to the comment left by SAM UK at 19/03/2018 – 12:06
Hi Sam
That doesn’t sound particularly efficient, there may well be a better way but it is difficult to say for sure without more details.
Please book a tax consultation via our main tax page. If we can’t save you money you are perfectly entitled to claim a full refund under our GUARANTEE of total satisfaction.