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Posted Thu, 10 Mar 2022 17:51:33 GMT by hazelrobinson73
My husband and I own a furnished holiday let in England. Last financial year we completed a self assessment each for this property (splitting the profit), can we just submit one self assessment instead under my account and therefore remove the need for my husband to complete a self assessment?
Posted Fri, 11 Mar 2022 14:50:57 GMT by HMRC Admin 19

The 50/50 rule does not apply to income arising from a UK property business which consists of, or so far as it includes, the commercial letting of furnished holiday accommodation.
  1. If a spouse or civil partner carries on the activity alone: that spouse or civil partner is taxable on the income.
  2. If a spouse or civil partner carries on the activity with others: the income is split for tax purposes in the way the parties have agreed to split the profits amongst themselves.
You can see the following guidance:

TSEM9820 - Property held jointly by married couples or civil partners: The 50/50 rule: Income from furnished holiday lettings

Thank you.

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