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Posted Tue, 10 Sep 2024 11:59:18 GMT by Joanne Stanley
Hi, My husband is the sole legal owner of our rental properties, he is solely on the deeds and the mortgages. We have a deed of assignments splitting the beneficial interest of the properties 50/50. The purchase of the property ,the mortgage payments and the rental income go to and from our joint account. We have just sold one of our properties to our tenant, do we both need to split the tax 50/50 on the gain of the sale or just my husband . Can you also confirm he is the only one who can claim the mortgage interest relief on his tax return. Thank you
Posted Tue, 17 Sep 2024 09:00:38 GMT by HMRC Admin 18 Response
Hi,

As you have amended the beneficial interest, both need to declare your share of any income/expenses and this includes any capital gain.

Thank you.

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