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bigduckontax, Accountant
Category: Tax
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In 2012 I owned my own house outright and had a mortgage

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in 2012 I owned my own house outright and had a mortgage against a rental flat, both properties were in my name. In 2014 I raised a new mortgage and moved with my then fiance in to a new family home and in doing so the bank considered the flat 'paid for', meaning I could no longer offset my mortgage interest payments against tax as the mortgage applied to the new family home. In 2015 I got married and I have recently transferred the mortgage into joint names, although I am still named as the sole owner on the deeds to the flat. My wife's income £6k pa, is there anyway I could use her unused income tax threshold when I submit my tax return for the flat? Or would I have to change the deeds to her sole name?

Hello, I am Keith, one of the experts on Just Answer, and pleased to be able to help you with your question.

Until you get your wife's name on the deeds as a Joint Tenant then you are in a cleft stick. Once you have done this % of the rental income would be part of her income for tax purposes and she would have her allowance, currently 11K to offset this. [line 1 should read 50%]

Ido hope that my reply has been of some assistance.

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