Rent Taxation

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My wife & I are joint Landlords of a house which yields a rent of £4320 PA. We are both liable to tax but If we split the £4320 equally we are each below £2500 which is when we have too contact HMRC instead of entering the figures on our independent Self Assessments. This might mean that we cannot claim tax reduction against rental expenses. I'm beginning to think that it would be more sensible to claim tax for one or other of us as single landlord which would mean that just one of us can continue to include tax claims as normal by following the Self Assessment path. Has anyone any experience with this situation If so what was the outcome.

09/11/2017 16:18

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