Date:18 July 2017 I Comments: 2 I Views:4,133
Own a business? Pay your spouse? Good idea for tax purposes (and ideally they should actually be doing something for the income too!). But, does it cause problems and disadvantage you in other areas? Take getting a mortgage as an example. If you pay your spouse £11,500 (tax allowance) and for some funny reason you don't want them on your mortgage (maybe they have other credit commitments or some other valid reason why you wouldn't want them to part own the property) then you could be reducing your borrowing potential by as much as £11,500 x 5 = £57,500. more >