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Search results: 2 article(s) found in topic: Married couples and civil partners - keyword: Income splitting
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Can property income sharing reduce your tax bill
As a higher rate taxpayer you lose 40% of the profit you make from letting a property in tax. To save tax can you draw up an agreement to transfer the income to your unmarried partner who pays tax at the basic rate?
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INCOME TAX - PLANNING
Deadlines for joint income elections
If you own assets jointly with your spouse you can to some degree choose which of you should be taxed on any income they produce. However, there’s a strict deadline for notifying HMRC. What should you do if you miss it?
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