Question re tax return

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    Question re tax return

    My wife and I are about to sell a BTL flat.

    We completed a Deed of Trust soon after purchase and have reported rental income for the last ten years on a 90/10 split until November 2020 when our tenants moved out.

    We have decided to sell up and completed a new Deed of Trust in November 2020 ( acknowledged by HMRC) to reflect a 50/50 split in order to maximise our CGT allowances.

    When I fill in my income tax return, do I enter rental income split 90/10 from April until November 2020, or because I lodged a new 50/50 split in November, do I have to enter rental income for the whole year to reflect the new 50/50 split?

    Grateful for any advice,

    Regards Dave



    #2
    The rental income should be split 90 :10 up to date of sale because the property is now vacant. .



    .

    Comment


      #3
      That’s what I was hoping! Many thanks.

      Comment

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