apayne94
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RE: Tenants on Common - Rental Income
Hello HMRC Admin 17, Hoping you can provide some clarification for me, please. I own a rental property with my girlfriend (unmarried), the property ownership is Tenancy in Common with a 50:50 split in shares. For tax purposes on our self assessment tax returns, we would like to split the rental income different to the 50:50 split in property ownership shares. We would like to split the rental income at 90:10. Please can you confirm: - Because we are not married, myself and my partner are able to agree between ourselves the split in rental income, even if that is different to the ownership shares of the property? - Do we need to document this agreement in a trust declaration/deed? Regards,