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declaring rental income
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GrizzlyAdams_2
Posts: 201 Forumite
in Cutting tax
Is it possible to declare rental income from a house as my wife's income even if the property is only in my name?
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In a word, no. The income is generated from an asset owned wholly by you(in legal terms) this is a matter of fact and public record. Only way to do this is to put your wife on the deeds and income will be split as per that ownership i.e. 50% owned = 50% of the income.
HMRC have currently got a project into undeclared letting income:
http://www.residentiallandlord.co.uk/news1290.html0
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