Shelter’s Income and expenditure figures highlighted13:57 PM, 4th February 2019
About 3 weeks ago 35
I am a landlord with 3 rental properties that all earn a reasonable profit (and therefore tax). The properties are jointly in my name and my wifes.
I am currently employed but my wife has recently decided to take a 1-2 year (maybe longer) break to look after our children.
In addition, I have just accepted a job in Atlanta, USA and we will be re-locating in January for approximately 2 years.
I have always done my own tax returns as up until now it’s been relatively straight foward. However, I feel now that I need professional advice to minimise my tax liability.
What I’m mainly considering is whether now is a good time to pass ownership of the properties to my wife as she will not be earning an income. I’m open to other ideas/strategies!
Can anyone point me in the right direction of who / how I can get help?
Please Log-In OR Become a member to reply to comments or subscribe to new comment notifications.
Our mission is to facilitate the sharing of best practice amongst UK landlords, tenants and letting agentsLearn More