Hello, I hope someone can help.
Both me and my husband own homes which we lived in prior to meeting - that are both now rented out. Mine is owned by me is in negative equity, his is owned solely by him and is mortgage free.
He works in 20% tax bracket - I work as sole director of my company and do not draw a salary.
1. should we complete trust declarations and form 17 so that the income& tax obligations are 99% mine?
2. my company is loss making (no loans outstanding funded by me from the income from my rent) - could my self employed income be offset against company losses somehow?
Thank you
Both me and my husband own homes which we lived in prior to meeting - that are both now rented out. Mine is owned by me is in negative equity, his is owned solely by him and is mortgage free.
He works in 20% tax bracket - I work as sole director of my company and do not draw a salary.
1. should we complete trust declarations and form 17 so that the income& tax obligations are 99% mine?
2. my company is loss making (no loans outstanding funded by me from the income from my rent) - could my self employed income be offset against company losses somehow?
Thank you