Redunancy Tax

Redundant99

Wonder if anyone can help me?

I've just been made redundant and my wife is a stay at home mum.

I have paid £14,000 in tax on the redundancy. I moved in with my wife earlier this year when we got married, and still own the flat which I was going to sell.

If I rent out the flat it will need a lot of work doing to it, is it possible to off-set the work required (basic maintenance etc) from the £14,000 in tax I've paid?

Thanks

Redundant99

Hi Jimmo,

Thanks for replying. Oh well it was worth a try.

The £14000 is the tax on the amount above £30,000. As my wife doesn't work I suppose I could sign the flat over to her to rent it out and use her tax free allowance.

Pete