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Shared income of furnished holiday let

10/01/2018 11:43:33
I havea shared income with my husband from a furnished holiday let. When I fill in my return do I split the income and expenses on the form as I fill it in?,
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  • Catherine Newman
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Re:Shared income of furnished holiday let

10/01/2018 11:55:28
Yes.
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Shared income of furnished holiday let

12/01/2018 13:47:18
Hi Jemima the 50/50 rule does not apply to income arising from a UK property business which consists of, or so far as it includes, the commercial letting of furnished holiday accommodation.
If a spouse or civil partner carries on the activity alone: that spouse or civil partner is taxable on the income.
If a spouse or civil partner carries on the activity with others: the income is split for tax purposes in the way the parties have agreed to split the profits amongst themselves.

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