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I was left a house between my brother and i with him being a millionare he said i could keep it all which was good of him.i went to the local soliciters to have his name taken off the will i told them i wanted the house in me and my wifes name for capital gains purposes in case we sell up.Has usual the soliciter leaves some one else takes over it took years to finalize and now i have the house in my name only after paying out £1400.Is it possable to get the wifes name on the deeds without having to use a solicitor and do i have to inform the taxman as i have been renting the house out and paying tax on the income any help would be gratful.
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http://www.ehow.co.uk/how_6855819_change-property-ownership.html
About the tax on the rent.
It might be to your advantage to slit the rental income between your wife and yourself.
Especially if she doesn't pay tax.
You have nothing to lose by telling the taxman about your new circumstances after you'd done it.
About the tax on the rent.
It might be to your advantage to slit the rental income between your wife and yourself.
Especially if she doesn't pay tax.
You have nothing to lose by telling the taxman about your new circumstances after you'd done it.
dr Crippen thank you for your advice the wife works so i dont think there would be much benifical in splitting the rent. It is only if i sell the house i would like to get capital gains relief for the two of us .I did not fancy involving lawers at £180 per hour
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