Sole Trading, Wife and Tax
My first post here so please go easy.
I have been a landlord for a number of years on a solely owned property with a good rental history and a yield of around 7%, historically I have had the properties managed by letting agents with varying levels of success.
Earlier this year my wife and I jointly purchased a new property to completely refurb. With this now complete its ready for rental.
I'm a higher rate tax payer and my wife is a stay at home Mum. My wife does all the management type work for both properties - she keeps the books I self assess anyway, arranges contractors, sorts out certificates, etc.
Does anyone have any advice around my wife setting up as a sole trader with a view to taking on other properties and me contracting out the management of both my 2 properties to her?
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