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TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 15977
Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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My wife and I own a property oversees (50% ownership each).

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My wife and I own a property oversees (50% ownership each). We have started to rent out the property. I already complete a Self Assessment each year due to my UK income. However my wife does not work and therefore does not pay any UK tax. We are both UK residents.
The annual rental is 4080 GBP.
Question - does my wife need to submit a tax return or declare her portion of the rent as it is only 2000 GBP per year and she has no other income?

Your wife should not need to complete annual tax returns, though it is sometimes a good way of maintaining a record of rental losses which can be used against future rental profits.

If you look under the heading "You have income from savings, investment or property" here, you will see that a tax return will only be required if there is a tax liability to pay which based on the information you have given me, your wife will not have.

I hope this helps but let me know if you have any further questions.
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