Rental Split from Property owned 50/50 with Brother

A property is owned 50/50 and the rental is split 50/50. The letting agent will only pay into one account each month rather than splitting the income equally between both owners. Does this mean the person in receipt of the full rental is liable for tax on the full amount even though they will be transferring the half owed to the other party immediately upon receipt. Thank you for your assistance.

Hi,

As the split is 50/50 you will be required to declare this split to HMRC.

Thank you.