Client who has one rental property shared equally with his wife. /They have changed the beneficial interest interest and resulted in the husband share of the rental profits has fallen below £1000.
With the £1000 property allowance does he still need to include the profit share in his personal tax return ? Probably not but just want to make sure as cannot find any exclusions for husband and wife apart from formal partnerships. I had thought this new allowance was designed to take individuals out from self assessment but my client would still need to complete tax return as he earns more than 100K