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Posted 3 months ago by Christopher Brown
I am a non-resident for tax UK citizen and submit property income for a UK property through self-assessment. My wife and I both lived abroad, and my wife has returned to the UK and is PAYE. Based on financial advice for a re-mortgage on a property solely owned by myself we added my wife to the deed. This has made us 50/50 owners which we now understand means any income or loss should have been reported on separate self-assessments. The tax advice provided to us at the time appears to have been poor. I have declared the property income and paid any tax due however this should have we understand been declared on two self-assessments. How do we correct this going forward?
Posted 2 months ago by HMRC Admin 32 Response
Hi,
As now owned 50/50, you should both be declaring your share of the income and expenses. You will therefore need to amend the returns for the years that are wrong and your wife will now need to file returns to show her share from when she was added. Going forward all income and expenses should be 50/50 unless you submit a change in beneficial ownership.
Thank you.

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