lettings business proft split

lettings business proft split

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with H&W relationship the lettings profit must be split 50:50 on jointly owned property - any other split must follow the underlying beneficial ownership of the property

I understand this is not the case for other relationships such as parent & child - but in order to split the profits differently I assume is it necessary for the each party to have some ownereship of the property - does any one know the hmrc manual reference to this issue?
nick farrow

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By nick farrow
07th Nov 2008 13:34

many thanks Pete
I meant to answer this myself as I found the answer - what my real query was:

Is there anything wrong (i.e. challengeable by HMRC) with the mother owning say 90% and receiving only 10% of the rent - from a literal reading of the guidance on PIM1030 it would seem not

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By User deleted
07th Nov 2008 12:06
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