cc9657
Joined: 9/17/2024
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RE: Tax return from jointly owned rental property
Hi, If my parent and I own a property as Joint Tenants, with a 50/50 share. Can we decide to split the rental income in unequal portions to ensure it is most beneficial tax position (e.g. my parent's total personal income to remain below the £12,570 personal income allowance)? And if so, what paperwork do we need to consider? In the thread above, you mentioned 'Declare Beneficial Interests in Joint Property and Income' thank you