Joint account for bills, first time buyer

JoeyLowton

My girlfriend have bought our first house and it completes on Apr 4th. Due to being a recent graduate her earnings have been up and down although (touch wood) she has now found a permanent job. The mortgage has gone solely in my name as it was my deposit and my wage etc etc. After the two year initial mortgage term we plan to add her on if all is still well. Obviously as the house is technically mine, the mortgage will come from my current account. We wish to set up a joint account to cover bills and so we can both pay in and she can pay her contribution.
My situation is I'm a self employed electrician, but due to work being a bit slack the last year in order to get my mortgage I needed to work PAYE for a while. As I submit a tax return for my self employed work, will her contribution to house running costs be counted as earnings? If this is the case would it be better for me to be a limited company, which I do plan for the near future anyway?
As our bills are only expected to be a few hundred per month, an account that has a minimum pay in is not ideal and we would like some overdraft facility to cover disaster.
I currently bank with Santander and she with HSBC. Sorry if this is a complicated set of requirements, but hopefully a wise sole can help?

JoeyLowton

oh dear god, I am not asking the advice of a fish. I meant soul :S

Lith

Want some advice? don't get a Joint account...

(it will bite you in the a s s yrs later)

Wonder why? take a look around... lol

PipneyJane

The short answer is "no" the taxman won't consider her contributions to be extra income of yours, so long as you stick to the following:-

1. Her Rent: Keep it to/below the level of the Rent-a-Room scheme.
2. Utilities/bills: she pays an equal share or less.

Whatever you do, you need a written agreement that she will pay her way. In addition, I think it is beneficial if she saves to buy her share of the house (the agreement can be that the money will go on renovations, i.e. an extension); it is better for the health of your relationship if both parties feel like they are contributing monetarily.