Ashcloud

Both me & my wife own a rental property jointly. And the property if mortgage free. I am a higher rate taxpayer while my wife is a basic rate taxpayer. I have heard that if I transfer my half of the economic benefit to my wife then together, we will be able to save some tax we pay. This is by transferring my 50% economic benefit to her, so it is taxed at the basic tax rate. Is this acceptable & if so, what process do we have to follow please? Thank you