Transferring rental properties to spouse

soupdragon10

I own two rental properties that bring in income and also get my state pension and an occupational pension.

My wife is unable to work for health reasons.

My question is can I transfer the properties to my wife so that the rental income counts against her tax rather than mine? What do I need to do to accomplish this? could I just add her name to the deeds?

I am trying to maximise our tax benefits, I already have the extra married person allowance.

00ec25

she must be an owner
(whether you transfer the whole lot to her as (new) sole owner is a separate topic)

read this re splitting income:
https://forums.moneysavingexpert.com/discussion/comment/75384459#Comment_75384459

ader42

She could go self-employed and you can pay her to "manage" the properties. No need to transfer the property ownership. IMHO.

Sibbers123

ader42 wrote: »

She could go self-employed and you can pay her to "manage" the properties. No need to transfer the property ownership. IMHO.

If you charge more than market value, this will be a sham, even more so if your wife is to ill to work - if HMRC came knocking they would want to see evidence of her work. Normal management fees will be around 15% of rental income at the most.

To get all of the income on your wife's tax return, she'll need to become the beneficial owner.

If there is no mortgage, it will be a fairly straight forward process to change the ownership.