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Can I transfer rental income to partner to reduce tax?
Mr_Beamo
Posts: 1 Newbie
in Cutting tax
I currently receive a rental income on my property that I share with (effectively: give to) my partner (we are unmarried). However, I am taxed on the income at a higher rate than my partner would be.
I am the sole owner of the property and have a mortgage on it. I live with my partner in the property she owns which also has a mortgage on it.
Can I put the rental income (and receipt of funds) in my partner’s name for the purposes of tax efficiency? If so, can I do this without affecting my ownership of the property?
0
Comments
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You would have to transfer ownership of the property to your partner to achieve this. That could cause stamp duty and capital gains tax liabilities to arise.1
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