I own two properties in my name and one jointly with my wife, all in Manchester. The properties have buy-to-let (BTL) mortgages. I have recently returned to work. I was wondering about transferring the beneficial interest to my wife for all three properties. My main concerns are that I do not want to inform the lender (I believe from the mortgage T&Cs I do not have to, but these would need checking) and I want to understand any stamp duty land tax (SDLT) or other tax implications so I can get a full cost picture. 

Arthur Weller replies:  

I cannot comment on what you write about the lenders, but let us make an assumption for the moment that you are fine as far as the mortgage companies are concerned. There is no capital gains tax when one spouse transfers to another spouse with whom they are living together. If you continue to be responsible for the mortgages, as you were before the transfers, then assuming you transfer to your wife as a gift for no consideration – there will be no SDLT implications. You need to contact a solicitor to provide you with a suitable 'declaration of trust', and look at https://www.litrg.org.uk/tax-nic/trusts-and-estates/trust-registration-service  by the Low Incomes Tax Reform Group about registering a non-taxable bare trust with HMRC’s Trust Registration Service.