I already own 2 furnished holiday lets which are owned completely in my name, I handle all the lettings, have my own bank account and pay all the bills. So currently I am declaring all profits and losses to the taxman on my own self assessment.
My husband and I are now considering purchasing a third holiday let but because of finances we will need to purchase the property jointly. Am I allowed to add this propety to my portfolio and use advantages such as averaging election as I already have a healthy number of weeks for the other 2 properties. And a second question can I apportion the profits/losses for the new FHL across my whole new portfolio of 3 properties and make the profit or loss share 100 percent in my favour with 0 percent to my husband for this third property. Also do I need to fill in any forms to inform the taxman of my decision to make the profits/losses 100 percent in my favour.
Thanks in advance