Transfer of 50% ownership to spouse

We are UK retirees tax resident in Portugal. Our tax affairs are basic, comprising pensions, rent & savings. However, we have 50/50 ownership of our UK dwelling & the rental is essential to our monthly income. I pay UK tax on pensions above the minimum income threshold, but also on 50% of the rental income. My wife falls below the threshold currently with her share of the rent as sole income, apart from some savings interest. We are considering Land Registry of the dwelling under sole ownership of my wife with a view to reducing my tax bill. What are the tax implications for either of us if the transfer is a gift, and will HMRC view subsequent rental solely as my wife's income?

Hi,
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You may wish to seek professional advice.
Thank you.