Jointly owned rental properties
Over 500,000 taxpayers in the UK own a rental property with one or more other people. Our platform provides a simple solution to make life easier for these taxpayers.
Joint ownership can be tax efficient, for example, if you are a couple and fall into different tax bands. But it can also increase tax admin, as the property income and expenditure must be split between the owners, and they each need to do their own tax return.
The joint property feature allows one of the owners to do all the bookkeeping for the property on behalf of all owners. The correct percentage of income, expenses and profit are automatically sent to each owner’s account. You can also export the transactions if the other owner is not using our platform yet.
This works for any number of owners and any percentage split. It also works if you have a portfolio of properties that are jointly owned by different people.