Filing Tax
Tax Planning and Financial

Paul C
Paul C
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11 Posts
13 years ago
0
Hi Prince

Not a tax expert but maybe if your wife had appointed you as a Managing Agent (verbally or in writing) then perhaps you could have sent her an invoice for your expenses (including utilities) which she could then have deducted from her income as an allowable expense. If you had offered your services as an Agent on a free introductory commission basis you would have had no taxable profit to declare on your tax return in relation to this rental although you might have had to declare a new area of trade on your return.

Check with your accountant.

Regards Paul C


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