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İ at a loss how to ask this!!

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de1amo
de1amo Posts: 3,401 Forumite
1,000 Posts Combo Breaker
in Cutting tax
My wife is a foreign national and doesnt have a national insurance number here --she is on my current account which pays the mortgage but not on the mortgage or deeds of the property-we are considering moving abroad permanmentally and letting the place(subsequent to approvals from BS)-i use my tax allowance because of my pension but was wondering if she can get a tax allowance for her to offset against the rent 'profits'--i am new to this site so forgive me for going astray!
mfw'11 No68- 55k mortgage İO--little to nothing saved! i must do better.

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  • CLAPTON
    CLAPTON Posts: 41,865 Forumite
    10,000 Posts Combo Breaker
    basically no as the HMRC will tax the owner of the property on the rental income
  • fengirl_2
    fengirl_2 Posts: 4,530 Forumite
    The alternative is to transfer half the property to your wife, but whether or not she would be due personal allowances depends on where she is from.
    £705,000 raised by client groups in the past 18 mths :beer:
  • de1amo
    de1amo Posts: 3,401 Forumite
    1,000 Posts Combo Breaker
    thinking outside the box-could i hire her as a consultant up to the amount of the profit!-then pay 11pc national insurance towards her future!!
    mfw'11 No68- 55k mortgage İO--little to nothing saved! i must do better.
  • fengirl_2
    fengirl_2 Posts: 4,530 Forumite
    A consultant for what - you would have to have business income from which to pay her.
    £705,000 raised by client groups in the past 18 mths :beer:
  • de1amo
    de1amo Posts: 3,401 Forumite
    1,000 Posts Combo Breaker
    consultant on furnishings on self employment terms-should be able to get loads of perks on that one lol Deh how did you know my wife's name lol
    mfw'11 No68- 55k mortgage İO--little to nothing saved! i must do better.
  • dehaani
    dehaani Posts: 604 Forumite
    de1amo wrote: »
    Deh how did you know my wife's name lol
    I saw her on the telly!
  • de1amo
    de1amo Posts: 3,401 Forumite
    1,000 Posts Combo Breaker
    she loves ting tong and all those characters--she even uses programs like that to teach English to kids-i set her up with an English accademy in Turkey and its thriving with her leadership--you can tell i love her!!
    mfw'11 No68- 55k mortgage İO--little to nothing saved! i must do better.
  • dehaani
    dehaani Posts: 604 Forumite
    de1amo wrote: »
    she even uses programs like that to teach English to kids-i set her up with an English accademy in Turkey and its thriving with her leadership--you can tell i love her!!
    Awesome! :rotfl:
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