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Friday 26th January 2018

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11:39 AM, 26th January 2018, About 4 years ago

Income Tax when you rent out a property: case studies

Interesting but a little confusing:

1) My wife purchased a BTL. Only her name went on the Mortgage/Deeds, so I assume that in such a case I don't have a tax liability, as she receives 100% of the rent and pays the corresponding income tax (I'm a high band and she's a low band tax payer).

2) Our 2nd property, we purchased in joint names, so we would be required to get a Deed of Trust, complete a Form 17, putting the lions share of the rental in her name in order to manage the tax liability.

Am I correct?... Read More