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Is this classed as extra income and is it taxable?

Question I own a property with my partner in the UK but I work and live in the Channel Islands. I pay her half of the mortgage payments every month into her bank account, and she in turn pays our lender. Is this classed as extra income for her, and is she obliged to declare the source to HMRC?

Arthur Weller replies:

If you can show from her bank statements that the money you pay into her account equals the money she pays out to the lender on your behalf, on a regular basis, the you should be okay. But besides that, it cannot be classed as extra income for her, because she does not work for you.



Property Tax Insider This sample question and answer is taken from Property Tax Insider, a monthly UK tax saving magazine for landlords and property investors.

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