BTL in cash in my wifes name

[lordturpin]

This may be a silly question....but is there any tax/legal issues that i should be aware if I buy a BTL property in cash and place it 100% in my wife name (who has no current earnings).

Of course then all rental income etc is applied against her taxcode i assume ?

Many Thanks

[lordturpin]

Thanks - I am not expecting a divorce at any time in the future....or not that i am aware of !

[lordturpin]

The cash would come from a joint savings account.

[lordturpin]

My initial enquiries around this seem to simply point to who owns the deeds, so if property is 100% in my wifes name then she gets the revenue and pays the tax regardless whether the purchase funds came from a joint account or inheritance or another

If its jointly owned in any way then then if reflects the split, normally joint ownership is 50/50 but could be anything.

[lordturpin]

Countdown said:

None whatsoever. I've done it.

It will mean an extra tax Return to fill in every year if profits > £2,500.

Edited by Countdown on Monday 26th October 17:41

Profits ? There is no mortgage and not in a Ltd

Edited by lordturpin on Monday 26th October 20:05

[lordturpin]

Yes. Hope to hit that threshold, thank you

[lordturpin]

Boz123 said:

rockin said:

You can't "place it in her name". You'll make her a gift of the purchase price and then she buys the house. No problems whatsoever, the property will be hers, the income will be hers and it will be taxed as hers.

However, it's mind-bogglingly inefficient. BTL is taxed inside out and back to front, has high transaction costs, has tenant risk and is very illiquid. (i.e. sale is "all or nothing".)

Does SWMBO have ISAs? If not, why not?
Does SWMBO have pension? If not, why not?
Does SWMBO have other investments? If not, why not?

The everyman BTL party is well and truly over.

Quite right. Why is BTL so appealing? You pay a huge premium and added complexity vs other investments.

We have maxed our ISAs/Premium Bonds/My pension. She has no emplyment/pension. I am far from a BTL fanboy - It was more looking for a tax efficient avenue for savings & slight hedge against S&S investments.