I literally spoke to the taxman yesterday about the Child Benefit piece, having not heard anything since registering last September. He gave me the option of paying the whole lot back in one go or monthly through a huge tax code adjustment. With regards to BV's comment of:
Is your wife a higher rate tax payer (presuming you're married of course)? If not a statutory declaration to put the house in her name will save you a fair amount of tax for starters.
I was advised a few years ago that if I/we had a joint mortgage, it was fraudulent if trying to rent the house out but in the name of the 'mrs' only. My wife is a housewife and I thought that would be an obvious method to avoid paying 40% tax on the rent.