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bigduckontax, Accountant
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I’m 50 and living in the UK and am considering buying a

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I’m 50 and living in the UK and am considering buying a second home to supplement my income. Ie I would like to buy a buy to let in the local area.
I already have a home (no mortgage) but will need a mortgage on about 50% of the new house. So I’ll need to borrow about 200k.
The existing house is in both my wife and my name. My wife does not work and i am working full time and in higher tax bracket. What is the best way to organise our house ownership so we pay as little tax as possible on any income from the new house or if one day we sell one of the houses?

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

Put the BTL in your wife's name then there will be the full gamut of her Personal Allowance to offset net rentals. Remember, that for BTLs the interest relief on the mortgage is allowable at basic rate tax and you are already in a higher tax bracket.

That would be the traditional way to avoid tax in this matter.

bigduckontax and other Tax Specialists are ready to help you
Customer: replied 1 month ago.
Ok thanks for the advice.

Thank you for your support.