I have a client who is just registering as self employed due to rental income. The issue is that the flat is jointly owned and has been making a loss for the last few years, the wife was declaring the rental income on her self assessment and following advice from an accountant they didn't declare anything on the husbands tax return. The reason given was that as there was no tax to pay (he is employed) there was no point and as the wife was doing all the management it was her income. I disagree with this treatment and it was discussed at length on a previous thread so won't go into that again!
They are now both managing the flat and it is making a profit so he is going to declare it on his self assessment, what they want to know is what start date to put for date income started from property. Any suggestions? There is still a loss being carried forward by the wife so this will need to be taken into account as well.
