Joestankaitis

Thank you for the confirmation HMRC. In previous years me and my partner shared profits so I am registered for self assessment. Could you confirm if I still need to fill in a tax return for this year and declare 0 profit on the property or do I just not fill in a return at all any more as the profit has all been given to my partner? Thanks

Thank you for confirming HMRC. Please could you also confirm if I can take 0% of the profit or I have to allocate some to myself? I'd like to give it all to my partner ideally.

Hi, sorry I don't understand your reply, do you mean to allocate 0% to myself I would have to be married? I'm not married to my partner and we own the rental property in equal shares, the post by HMRC above mine says in this circumstance you can allocate the profits however you want without a deed of trust and seems to contradict your reply to me? Could you clarify what exactly the requirements are for unmarried partners with an equal share in a rental property please? The manual is ambiguous in this circumstance. Thanks

Hi HMRC. I am in the same situation as the original poster. I wanted to ask if I can take 0% and give all the profit to my partner, or do I need to take some myself?