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bigduckontax
bigduckontax, Accountant
Category: Tax
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My wife and I have a joint investment that produces income.

Customer Question

My wife and I have a joint investment that produces income. For tax purposes do we have to split the income 50/50% or can we divide it differently.
Thank you
Submitted: 2 years ago.
Category: Tax
Expert:  bigduckontax replied 2 years ago.
Hello, I'm Keith and happy to help you with your question.
HMRC will assume that such income is split equally unless there is evidence to the contrary. You can make a different division, but it would be advisable to make an agreement between you in writing, preferably witnessed, in case of a query by HMRC.
I do hope I have shown you the way forward in this matter.
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Expert:  bigduckontax replied 2 years ago.
Thank you for your support.

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