10:08 AM, 12th December 2013, About 10 years ago 14
My wife and myself jointly own a BTL which we let out. I am a higher rate tax payer but my wife is on the 20% rate. Ideally I would like to do a transfer of equity into her name to reduce our tax on rental income.
I have contacted the mortgage company and there is no charge to do this. However I am just thinking ahead to when we sell the property. As I would no longer be on the deeds I would surely loose my CTG relief.
I guess my question is “is it best/possible to leave a small % of the equity in my name or can I simply just do another transfer of equity back into my name when we come to sell?”