I own a buy-to-let property jointly with my wife. I am thinking of changing ownership from joint tenants to tenants in common, giving the maximum share to my wife as I am a higher-rate taxpayer, so this will hopefully save me tax. It’s for tax year 2022/23. Is it allowed and possible? 

Arthur Weller replies:  

It is possible, but any transfer of percentage ownership of the property you make to your wife will not work retrospectively. It will only work from the date of the transfer onwards. See HMRC’s Trusts Settlements and Estates Manual at TSEM9860.