Tax Payable on a rental from joint owned property

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M
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I have a flat that is jointly owned under a declaration of trust between myself (50% ownership) and my adult two children (25% ownership each).

I receive all of the rental from the property and pay all expenses incurred in ownership and so will enter this on my tax return. As the children do not receive any of the rental income, am I correct in assuming they will not be required to make a return to HMRC relating to rental from the property?


31/01/2011 00:00

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