Rental property - joint names?

Juniperberries

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In the process of buying a property we hope to rent out. I am not working at the mo, so this will be my ‘income’. My spouse is paye on the higher rate of tax.

Are there any advantages (tax wise) to putting the property solely in my name? Or are we better with both names on the deeds?

Thanks
 
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It is better from a tax point of view for the non-earning spouse to have income in their name to use up their tax credits.

But is it wise for one spouse to own a significant share of the assets in their own name? Probably not.

Are you taking out a mortgage? If so, the lender would probably not allow it anyway.

Brendan
 
Thanks Brendan. Just wondering if I can declare the income as ‘mine’ if the property is in both names.

No mortgage required.
 
No.

However, it is possible to do it legally. A solicitor can advise re costs.

I think it was a couple of grand when I had it done for someone.
 
If no mortgage is required than there is no problem with putting the property in one person's name. Then the question becomes does revenue consider the income as joint income.

Even if the source of the funds is the earning spouse there is nothing wrong with a husband purchasing an investment property for his spouse as far as I know.
 
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