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Posted Fri, 16 Aug 2024 14:12:34 GMT by Brunokid Brown
My other half and I have jointly owned buy-to-let properties for many years. We have always claimed 50/50% profit when filling in out tax returns. This year I have forecast that the dear wife will be pushed into the higher tax band, where as I still have a bit of room yet. Could we claim 70/30% as I do all the work after all? Thanks 

Name removed admin .
Posted Mon, 19 Aug 2024 14:40:32 GMT by HMRC Admin 5 Response
Hi 

Thank you for your question, please refer to guidance - PIM1030 - Introduction: jointly owned property & partnerships - Jointly owned property: no partnership, which states ‘However, where the joint owners are husband and wife, or civil partners, profits and losses are treated as arising to them in equal shares unless:
both entitlement to the income and the property are in unequal shares, and
both spouses, or civil partners, must inform HMRC that their share of profits and losses is to match the share each holds in the property.’
You can inform HMRC of unequal shares by completing a Form 17 available at Declare beneficial interests in joint property and income

Thank you
Posted Tue, 20 Aug 2024 20:21:05 GMT by Sai Tata
Hello - I am in a similar boat. I reached out to an accountancy firm last year and they advised me to set up a partnership with 99% and 1% split for spouse and myself. We have not filed any deed of trust. This partnership is only to manage rental income. Now I doubt if I received good advice. Are you able to please comment on my situation? Sai
Posted Wed, 21 Aug 2024 09:46:22 GMT by HMRC Admin 25
Hi Sai Tata,
We cannot comment on why your accountancy firm advised a partnership, normally in the circumstance you have described Form 17 and a Deed of Trust would be appropriate.
Please see the link to guidance provided below:
Declare beneficial interests in joint property and income
This form must be support be a Declaration of Trust or Deed.
Thank you. 

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