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Tax on property income

LANDLORD FORUMCategory: TaxTax on property income
Gary Aiston asked 3 years ago

Hi,

I own a house with my partner, we are unmarried and listed as joint tenants on the declaration of trust. We let it out and she receives all the income. In terms of tax on the income, are we both liable 50/50 as joint tenants or is my partner liable for any tax which is payable as i dont receive any? Do any specific legal agreements need to be in place to show HMRC that she receives 100% of the income?

Thanks.

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Marc Attwater Staff answered 3 years ago

You will need to seek tax advice on this, however, my own thoughts are you will be taxed for your element despite you opting not to rceive your share.

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