completing tax return

[sha1122]

Me and my wife own 2 rental properties. one on 50:50 joint name. The other is in tenant in common 10:90 to wife recently bought not yet rented out but will rent out soon.
How do we go on completing tax return when the second property is unequal share. ? meaning splitting the expenses, interest etc

Second question can i make beneficially of income for property one to my wife 90:10 what forms do i need to complete?

thanks in advance for your replies

[section 44]

The other is in tenant in common 10:90

The 10:90 split is in equity only. Legally is the property owned in jointly? If so then for tax purposes the rental income should be split 50:50 unless the alternative split is notified to HMRC using the form 17 procedure.

[sha1122]

thanks for your reply.
The second property is not on joint name. It is on tenant common on 10:90 split to wife. i am only receive 10% benefically income from this property . Where as property one is on joint name income from this property in split 50:50. How do i complete tax return in this circumstance. i am confused i dont want to split the income 50:50 for the both property. what do i need to do.

thanks for your advise in advance

[Peter D]

If the property is help 10/90 then submit Form 17 to HMRC and account for your share of the rental income and expenses in the same proportion 10:90 whilst the original property income will remain 50/50.
You could use a Declaration of Trust and apportion that rental income differently if it benefits your tax position. The DofT only alteren the beneficial ownership not the legal ownership. Regards Peter

[section 44]

The second property is not on joint name.

Form 17 is not in point then. Presumably you solely hold the legal title to the property on trust for you and your wife pursuant to a declaration of trust.