Sole to joint to spread tax and Stamp Duty liability?Make Text Bigger
I have two buy two lets on my sole name, 1x HMO and 1x single let.
With the new tax changes to the property market I am looking add my wife’s name on to both properties to joint tenants to benefit from her tax allowance. I am 40% tax payer and she has no income at all.
Both properties are mortgaged as HMO £145.000 mortgage (property value £250.000) and single let £160.000 Mortgage (property value £230.000)
The question is:
Would my wife be liable of paying stamp duty on each property??
My understanding was no but mortgage advisory told me different
Many thanks in advance
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