How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask TonyTax Your Own Question
TonyTax
TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 15916
Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
13905389
Type Your Tax Question Here...
TonyTax is online now

Rental income and profits can they split in any percentage

Resolved Question:

Rental income and profits can they split in any percentage between husband and wife
Submitted: 1 year ago.
Category: Tax
Expert:  TonyTax replied 1 year ago.
Hi. A married couple can split ownership of a property in any proportions that they wish to. However, unless the property is owned in proportions other than 50:50 and HMRC are informed in a form 17, the rental income will be split on a 50:50 basis for tax purposes regardless of the ownership split. I hope this clarifies things for you but let me know if you have any further questions.
TonyTax and other Tax Specialists are ready to help you

Related Tax Questions