R J
Joined: 5/26/2023
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Are expenses split according to beneficial interest on BTL property
In the last financial year 23/24 I managed to setup the beneficial interest of my BTL property to be 100% in my partner's name who is on a low income. I got the deed of trust and form 17 submitted although it took a fair few months for HMRC to confirm they received it. We will soon be completing our self-assessment and understand that I can now apportion the rental income based on the percentage assigned in the deed of trust from the date of signing. However, I wanted to confirm that the same applies to expenses. I.e Should 100% of expenses that have been incurred since the signing of the deed be allocated to my partner's name? TIA