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Posted Tue, 26 Nov 2024 22:12:12 GMT by Andrew
Hello, please advise the following questions regarding foreign property income: 1) My spouse and myself are the joint owner of an overseas property, when I am completing the foreign property income in the self assessment tax return, is it okay to split the foreign property income to 10% on me and 90% on my spouse? So, I will only fill the 10% of the foreign rental income, while my spouse will fill the 90% of the foreign income in the self assessment. 2) Do we need to specify in the self assessment on this split of the foreign rental income for my spouse (90%) and myself (10%)? If yes, shall we put this information in the "Any other information" section of SA100 form? Thank you.
Posted Wed, 27 Nov 2024 12:26:14 GMT by Clive Smaldon
Not HMRC, its defaulted to 50/50, same as all joint assets. If you have a declaration of trust and form 17 registered with HMRC to vary ownership/income that would be ok, but if not then you must declare it 50/50

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