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Welshbeef

Original Poster:

17,857 posts

83 months

[news] 
Tuesday 2nd October 2012 quote quote all
Two questions
1. If you pay Maintence is it tax deducatble I ask as when I filled it in online one question was about Maintence or alimony payments

2. If you are married how do you actually go about declaring say rental income or any income not dealt with via income tax through payroll ie to use a 0% or 20% tax threshold v a 40-45%? My wife is 20% but will drop to 0% so want to take advantage of it.

Thanks

sumo69

1,580 posts

105 months

[news] 
Wednesday 3rd October 2012 quote quote all
If you make or get maintenance payments and/or child maintenance payments after 6 April 2000 it won't normally have any effect at all on the tax you pay. Only people born before 6 April 1935 who make these payments need to think about their tax position - I assume that isn't the case for you!!

Re untaxed income on savings and investments, any jointly held assets income is split 50:50 and any in her sole name would be taxable on her solely - so the aim is where possible to give title to her though this is not straightforward for assets already owned by you, especially tangible property. You can legally manipulare certain incomes such as dividends by transferring the ownership of the shares via the Registrars making any future income hers.

David
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