How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask JGM Your Own Question
JGM
JGM, Solicitor
Category: Property Law
Satisfied Customers: 11567
Experience:  30 years experience in property law.
31090051
Type Your Property Law Question Here...
JGM is online now

I am going to be letting a property I own. However I will be

Resolved Question:

I am going to be letting a property I own. However I will be liable for tax on any rent I get paid. My wife does not work can I make her the landlord and save on the tax. Do I need to transfer property to her.
Submitted: 2 years ago.
Category: Property Law
Expert:  JGM replied 2 years ago.
Thanks for your question. I am a Scottish solicitor and will help you with this.
For your wife to be the landlord she must have a legal interest in the property. This can be achieved in one of two ways:
1. You transfer ownership to her.
2. You let the property to her for no rent, or for an amount equivalent to the running costs, and she can then sub let the property.
She doesn't pay tax on the rent, only on the profits from the rent. Running costs, such as mortgage, factors fees, furniture and repairs are deductible.
Happy to discuss further.
JGM and other Property Law Specialists are ready to help you