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Transfer of income to spouse, not on deeds

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  • Transfer of income to spouse, not on deeds


    Sorry if this has been covered before but it is difficult to interpret other people's circumstances to your own.

    I'm about to purchase a property with a friend. I'm married and a higher rate tax payer, my wife earns very little. I wanted to mitigate tax and show my wife as earning the income. The original plan was for her and my friend to get a mortgage. However, the mortgage company don't like it.

    So, my friend and I will apply for the mortgage. Through deed of trust or similar, can I apportion my share of the income to my wife for tax purposes?

    Thanks for reading and I appreciate any help.

  • #2
    Re: Transfer of income to spouse, not on deeds

    I'm not sure what you mean - I would have thought what the mortgage company would look at is the total income between yourself and your wife - and that it would not matter at all as to what degree of that income is yours, or is your wife's.

    Are you saying that you already own a property as your own home, but your wife does not, therefore you want a second property in her name to avoid capital gains tax liabilities??