New EICR to cover any changes made by outgoing tenant?10:00 AM, 4th May 2021
About 2 weeks ago 96
I have a few BTLs now and although I don’t have a company incorporated etc is it possible to pay my wife a Landlord Salary for looking after these properties (I.e. advertising, viewings, point of contact for tradesman etc)?
Not sure if it is possible without forming a company, however I also appreciate my wife would be taxed on this income however I am OK with that as a short to medium term arrangement.
The amount I am thinking is approx £30,000 per year, which is a difficult price tag to place but is good recognition of her balancing motherly duties and handling a series of buy to lets!
My intentions are to buy a new personal home, however as my wife is a stay at home mum, she no longer has a salary which affects the borrowing multiplier. Hence the course of action above, which I would pay her for at least 4 months before we even make a mortgage application.
Thanks for your thoughts, however controversial
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