Paul Gallagher

Okay thanks. What is difference in a declaration of trust and a deed of assignment? I’ve been advised a deed of assignment will suffice for this purpose.

Hi, I just want to make sure the below is correct I own a property with a mortgage solely in my name. It is currently rented out. I’m in the high tax bracket whilst my wife isn’t. If I get a deed of assignment and assign 100% of the beneficial interest to my wife, she can receive all of the rental income and pay the appropriate tax. The deed of assignment does not need to be sent to HMRC but I do need a copy incase they request it. There’s no need to update the land registry and there’ll be no capital gains tax to pay. Is all the above accurate? Final point. I’m self employed and provide a self assessment every year, even though my wife will receive the rental income can I claim the 100% of the mortgage interest as an expense as the mortgage is in my name and paid by me?

Hello, The property is owned by myself. My wife isn’t in the mortgage or deeds.

Hello, I own a property with a mortgage solely in my name. It is currently rented out. I’m in the high tax bracket whilst my wife isn’t. If I get a deed of assignment and assign 100% of the beneficial interest to my wife, she can receive all of the rental income and pay the appropriate tax. The deed of assignment does not need to be sent to HMRC but I do need a copy incase they request it. There’s no need to update the land registry and there’ll be no capital gains tax to pay. Is all the above accurate? Final point. I’m self employed and provide a self assessment every year, even though my wife will receive the rental income can I claim the 100% of the mortgage interest as an expense as the mortgage is in my name and paid by me?