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Post Info TOPIC: Property Income
Georgie


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Property Income
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Hi My client rents a property of which he owns 99% and his partner owns 1% (their solicitor advised this as one of them is a higher rate tax payer) Anyway they are renting it out ....When preparing their tax returns should I state the percentage of the split on each of their tax returns? Georgie



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FoxAccountancyServices


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Date:
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HI Georgie... from what I can gather, your client will have 99% of the property income on his return, and 1% would go on the partner's... I dont think you have to state the percentage, just put in the figures



-- Edited by FoxAccountancyServices on Tuesday 17th of November 2015 05:23:41 PM

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