Skip to main content

This is a new service – your feedback will help us to improve it.

Posted Mon, 01 Jan 2024 20:24:20 GMT by
My parents (who have separated) jointly owned a flat which was rented out. this was sold and there is a capital loss. I'm supporting them to complete Self assessment for 31/1. Do I essentially half the figures for each return? Not sure how to show in the return?
Posted Wed, 10 Jan 2024 09:16:43 GMT by HMRC Admin 5 Response
Hi

Yes as jointly owned, all income and expenses in relation to the property should be split 50/50.

Thank you
Posted Wed, 10 Jan 2024 09:55:19 GMT by
Thank you for this. Can I confirm that if the property was sold for £100k and bought for £50k, then each person would show: proceeds 50k - costs £25k ie half the totals??
Posted Tue, 16 Jan 2024 11:57:45 GMT by HMRC Admin 21 Response
Hi hgough,
That is correct.
Thank you.

You must be signed in to post in this forum.