Deltoo
Joined: 7/24/2024
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Change of existing rental property to joint ownership
My wife and I recently (2023/4) changed the ownership of an existing leasehold rental property to joint. Currently the freehold remains with my wife. All the tax on property income to date is being paid by my wife. We're both standard rate taxpayers. I would appreciate any guidance on how to notify the changes to Inland Revenue to both of our tax positions as my wife is now overpaying and I am underpaying?