Tenants in Common - 99% to Wife

ianpalmer2007

Thank you - didn't want to be cheeky - but thank you! :-)

I am a long way from you in the North of England so the price is a great guide that I will use as a guide - many thanks indeed.

Ian

bluekp

Ian,

I should have added that the fee we paid was purely for the Beneficial Interest document - we already owned the property between us anyway so there was no need for us to notify the Land Registry.

Once we had the document, we completed HMRC Form 17 ourselves and submitted it to the tax office.

Kind Regards,

bluekp

(ps our solicitor was based in Cheshire!)

ianpalmer2007

Cheshire - now that is close - we are in Gtr Manchester
Not sure if you can e-mail me but if you can - yes please.

Thanks again.

Ian

bluekp

Hi Ian,

I have sent you a "Private Message".

If you look at the green bars near the top of the page, you should see one which says

"Welcome, bluekp. You last visited: Yesterday at 9:38 AM Private Messages (PMs): Unread 0, Total 23"

but obviously with your user name not mine! If you click on "Private Messages (PMs)" you should be able to see my message.

kingstreet

bluekp - I take it you were mortgage-free when you did this? Or you had no problems because you already owned the property jointly even if there was a mortgage?

bluekp

Hi kingstreet

We had no problems as we already jointly owned the property (with mortgage).

bris

The easiest way is to employ your wife to be a book keeper for the property, keep it under the thresh hold for tax and NI and unless there is a very large profit you will not have to pay any tax on it.
Your wife will not make any more than her allowance so she won't have to pay tax either.

ianpalmer2007

It just so happens that this is her current job - but as we travel abroad more she won't be working more than 12 weeks a year temping on what will usually be low pay. (i.e. earning about £3k per annum).

Can you really pay someone £3500 a year to be a bookkeeper for a flat that gross's £3500 per year after expenses - surely the HMRC would have you ffor that?