Transferring property between spouses
For rental properties, particularly with the higher rates of tax next year, joint ownership may be more tax beneficial.
So how can this be done? One way is to transfer both the legal and beneficial title to a spouse. Another option is to simply transfer only the beneficial ownership by executing a declaration of trust. The latter may well be simpler.
Cathy Corns is a tax adviser and a partner at Mercer & Hole. The views given in this blog are personal to the author, if you would like to discuss the contents of this post with Cathy you can call her on 01908 605552.
Date: 24th January, 2010
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