Tax Question
Joined: 5/21/2024
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Historical spouse errors
A married couple has a jointly owned rental property. The husband however has declared all rental profits on his own Tax Return. The wife has never completed a Tax Return. Both are 20% taxpayers. Does a 20 year disclosure need to be done for the wife, or would this constitute a reasonable excuse and be limited to 4 years? For the husband, will this mean there is a limit of claiming back overpaid tax for 4 years as an overpayment relief claim?