Rental income - husband & wife tax

[razbox]

Hello

I am about to buy a buy-to-let property and want some advice. I am a higher rate taxpayer and my wife isn't an earner. Can I put the flat purchase in both our names (for CGT purposes), but have only her taxed on the rental income? Or does having it both names mean we share the rental income?

thanks

[Eric Mc]

Yes and no.

You need to make an official declaration to HMRC in advance that this is what you are going to do (which they can challenge if they want to) and you may need to register a change in ownership split at the land registry.

What if the property makes a tax loss?

Sometimes paying a bit of higher rate tax isn't the end of the world.