Personal Tax Tip 8 – Buy-to-let properties


If you own any buy-to-let properties, have you considered owning them jointly with your spouse/civil partner to reduce tax?

Tip: For Capital Gains Tax purposes and Inheritance Tax purposes, it can often be more advantageous to hold assets jointly. However, if one of the couple is a higher rate tax payer and the other pays tax at basic rate, then annual income tax bills may be higher than necessary. Owning the property jointly, as tenants-in-common, will allow the couple to allocate the income in unequal shares, e.g. say 90% to the basic rate spouse and 10% to the higher rate tax payer.

Any questions?

If you would like to arrange a free meeting with a Liverpool accountant to discuss cutting your personal tax bill, either at our office or at your premises, please contact us on 0151 724 3960 or by email at [email protected].

Alternatively, you can use our website contact form.

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Added by Jon Davies

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