Tax Reliefs/Tax Free Transfer
Between a husband and wife there are few allowances/exemptions, which can be taken advantage of
and the other spouse is a basic rate payer then if there is a let property this could be transferred as a gift and there will be no Capital Gains Tax and Stamp Duty. The lower earning spouse on any rental profit will pay at the basic rate of 20% rather than 40% in tax.
The higher earner in general can have some Tax Relief
The Basic Tax Relief band increases, which means more income is subject to the basic rate tax
If you would like further advice and guidance
Please feel free to reach out
Tel: 01212852534
Web: www.secureaccountsltd.co.uk
#accountants #taxes #bookkeeping #vat #paye #selfassessment #corporationtax #accounts #companies #pension #investments
Would you like to speak to one of our financial advisers? Just submit your details, and we’ll be in touch shortly. It will be a pleasure to attend to you!
Give us a ring
0121 285 2534Send us an email
[email protected]Other website
https://www.secureaccountsltd.co.uk/