Introducing wife into lettings business

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15 Posts
11 years ago
My lettings properties are registered in my name only. My wife has now retired and we will both be living on lettings income. I would like to split the income 50/50 with my wife so that we can use her tax allowances against the profit. Do I need to add her name to the deeds at the Land Registry or is it sufficient to advise HMRC that from April 6th we are splitting the income between us?
Thank You.

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