PAUL HOLDER

Thanks for your prompt reply, which helps clarify things a bit. To clarify further, are we able to transfer the entire rental income to my wife (to use her under utilised 20% tax allowance) without incurring CGT or SDLT through making an unintended property transfer?

Hi, My wife and I jointly own some properties as Joint Tenants for which the rental income is shared 50:50. We are looking to change the rental income split to 100% in favour of my wife in order to better use her under utilised 20% tax allowance. Our understanding is that we would need to prior establish a Deed or Declaration of Trust and then register this jointly with an associated Form 17 with HMRC, Our slight concern in doing so would be whether this would correspondingly generate a CGT or SDLT liability. Our initial research suggests it doesn't but we would prefer formal clarification. Regards

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