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Posted Thu, 08 Aug 2024 20:05:05 GMT by bcw2311
Hi. I'd be grateful for clarification about the time at which my wife and I become joint tenants on a property we own. The property was owned (with a mortgage) by me when we entered the relationship, and was still solely in my name when we got married and were by then renting the property out - as the property and mortgage were in my name, I have since declared 100% for Income Tax purposes. On 2nd April my wife paid the remainder of the mortgage from an inheritance. On 16th April, when we finally received written confirmation from the building society the mortgage was redeemed, we instructed a solicitor to submit forms to the Land Registry to transfer ownership to both our names. At what point are my wife and I considered joint tenants for Income Tax purposes? 2nd April, 16th April, or when the transfer is confirmed by the Land Registry? Many thanks in advance.
Posted Fri, 09 Aug 2024 15:22:31 GMT by HMRC Admin 5 Response
Hi 

As the property was in your sole name before you were married the date that you are considered joint tenants for income tax purposes will be the date that you asked your Solicitor to make you joint tenants from.
This will be 16/04/2024.

Thank you

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