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Posted 13 days ago by Hanna-
I have few questions, I own a property with my daughter as Joint tenants not tenants in common. After reading this forum and HMRC manuals I understand we can share the rental income by a ratio we decide, is this correct. If yes, do we have to have a written agreement and do I need to send the agreement to hmrc? As some have been advised on this forum highlighting we don’t need to have a written formal agreement as the property is registered as joint tenants with a non spouse ; so I would be grateful if you please clarify. Thank you.
Posted 10 days ago by HMRC Admin 17 Response

Hi ,
 
Thanks for your question.

As the property is owned between family members and not spouses, you may wish to write up a valid declaration of trust outlining split of rental income and expenses between owners,

however, as ownership is not between married/civil partner couple, 

it would not be a requirement, instead completing the additional information box would suffice.

Thanks

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