How Do I Record Shared Property Earnings?

Joint property income from a formal partnership should be entered in the partnership section of the tax return.  

If you had other joint lettings, answer ‘Yes’ to this question.  Only show your share of the income and expenses on the tax return. 

How you share your income, expenses and profits depends on the relationship between the landlords: 

  • For married couples or civil partners, your shares must be equal, unless the income is from a Furnished Holiday Letting. 
  • If you own the property in unequal share, to share the income in another way, HMRC must receive an election on form 17. 
  • For joint landlords who aren’t married or civil partners, your share can be according to actual ownership or any other agreement between you.

Enter the name and address of the person who prepares the property records on the ‘Any other information for other property income’ page.