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Posted Wed, 03 Jul 2024 09:23:58 GMT by BOBC
A deed of trust has been completed allocating rental income 99% to wife and 1% to husband who is a higher rate taxpayer. The property was formerly PPR purchased with a joint mortgage which is still outstanding. How is the mortgage interest allowed against the rental income? Is it 50% each or shared 99%/1% or something else? Thank you
Posted Thu, 04 Jul 2024 07:46:57 GMT by HMRC Admin 8
Hi,
Please ref to our guidance using the link below:
UK property notes (2022)
Thankyou.

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