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receiving share of rent
louiseS_2
Posts: 16 Forumite
I moved into my husbands house when we got married (12 years ago). We moved a couple of years ago and it is now rented out. The house is still in his name only, but the rental income goes into a joint account. Can we declare the income as 50:50 for income tax purposes? Or would he have to gift half the house to me?
Thanks
Louise
Thanks
Louise
0
Comments
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If the house is in his name then the tax liability is his too.
Is the house mortgaged because it may not be easy to gift part of the house to you, you will need to contact the mortgage company.
You really need to look at your total income and who pays most tax, if your husband is a higher rate tax payer and you are a non tax payer it maybe better to gift you the whole house!0
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