Question:
I want to rent out a property on Airbnb. Will we pay less tax on income if we transfer it from joint ownership to my wife’s name, as I pay high band tax and her pay is around £20,000 per annum?
Arthur Weller replies:
You are correct; if you transfer this property to your wife's ownership, instead of the rental income being received 50:50, it will be received 100% by your wife, and so there will be less income tax to pay.
