Hi all,
Me & my husband are full time employees. I own a flat which I rent out & tax through self assessment.
We live in the place my husband owns & is still paying a mortgage on. We’re looking into moving into a bigger home & renting our current flat out.
Whats the most tax effective way to go about it as my husbands higher tax rate would mean that we would pay 40% tax from the rental income if it was simply done through his self assessment.
Should we create a ltd company or a trust? Would it help if we were jointly on the new mortgage?
Thanks as always :)