Investing as a Couple?? Things to consider...

I met with a Landlord recently who invests in all his properties with his wife. She was the homem...

I met with a Landlord recently who invests in all his properties with his wife. She was the homemaker and as such had no income.

We were discussing tax as they had just completed his tax return and they were bemoaning at the amount of tax he had to pay on his rental income as he was a higher rate taxpayer.

I asked if they had utilised her tax allowance and they said that 50% of the income was allocated to each of them but it had not fully utilised her taxable allowance.

At this point i suggested that they may consider changing the balance of ownership towards the wife as Tenants in Common so that more of the income was allocated to her thus saving 40% tax.

I also pointed out that such decisions should not be taken in isolation as they may affect any Capital Gains & Inheritance Tax planning that had been done.

They say that there are only two guarantees in life, Death and Taxes. At Belvoir we can't do much about death but we can certainly help you to pay no more tax than necessary.

I recommended a free consultation with our Wealth Managers so that they could review their current circumstances with the hope of saving them money now and long into the future.

It is important to think about what your exit plan is aswell as your initial goals at the outset when doing any investments, especially in property.

Everbody's hopes and ambitions are different that is why it is important to get tailored, individual advice before you invest any money.

If you would like more information or would like to review your current portfolio to make sure it is going to achieve what you want it to then why not call the office for a chat on 01344 209088

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