Transfer of property

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3 Posts
9 years ago
Family and property circumstances have changed and it will be more beneficial from a tax perspective to 'transfer' my property into my new wife's name.
I am an earner in the 40% tax bracket and currently have the mortgage for the rented property in my sole name. Until this year the property has made a loss and the cumulative losses have nearly been wiped out by this years profit. I am recently remarried and my wife doesn't work.
Can you please advise how best to go about transferring the property so that ant profits for the coming years can be offset by her allowance. I am due to complete a tax return in the next few months and one of the questions relates to selling the property in the coming year. Strictly speaking i am not but will this 'transfer' if i am able to do it count as a sale?
Regards and thanks in anticipation.

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