Income tax issues with ownership of rental properties
jon
June 20, 2011
Income tax, property
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Tags: Capital gains tax, HM Revenue and Customs, husband, Income tax, joint tenant, lettings, property, share, spouse, tenant in common, wife
The reality is that many married couples are liable to very different rates of income tax. It is not uncommon to have one who is a 40% payer while the other is liable only at 20% or has no liability at all. Therefore you might think that there would be some mileage in arranging property affairs to take advantage of this.
It is of course conceivable that the person with the higher level of income could be a 50% payer but most people in this position would and should … Continue Reading
