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Posted Fri, 08 Mar 2024 15:04:07 GMT by Ann Q
Hi, If a rental residential property is jointly held under husband and wife's name, but the mortgage is only under the husband's name. In self-assessment, income would be treated 50%-50%, what about the mortgage interest? Can that be split 50%-50% as well, or it has to be only reported in husband's tax return? Thank you.
Posted Tue, 12 Mar 2024 09:22:14 GMT by HMRC Admin 8 Response
Hi,
Assuming that your  husband has transferred a 50% beneficial interest in the property, then we would expect the income and expenses to be split between them, in the same proportion that the property is beneficially owned.
Thank you.

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