Property income BTL

Hi Admin, I own a rental property which is solely in my name in the title deeds and the mortgage of it. I am working full time and I am a higher rate tax payer. My wife, whom is a lower rate tax payer, takes care of the running of the property and deals with any issues with the tenants. I wish for my wife to receive rental income and pay tax on this. Is this possible by keeping the mortgage and property in my name? If so, how do I go about this? Form 17 does not apply to us as the property is solely owned in my name only. Thank you

Hi,
As the property in question is solely owned by yourself, we would advise that a Form 17 would not suit your personal situation, as this would only be necessary if the property was jointly owned.
We would advise that you submit either, a valid Deed of Assignment or trust in order to reflect the reassingment of beneficial interest in the property.
Only the party who incurs the mortgage costs, and pays the interest may claim the mortgage interest as you can see in the following guidance
SAIM10030 - Relief for interest paid: general conditions: the claimant
To make this transfer, the property must be held as tenants in common.
Thank you.