Taxed letting for joint ownership

[mn1lmn2]

My wife and I jointly own a flat. We would like to leave the country permanently, to return to our native Spain, while letting this flat. We understand the letting income is taxed at 22% after allowed expenses. We also know that there's a tax free lump we can have, which is about 4k pounds. The question is: can each of us account for half of the taxable income to benefit from the tax free allowance independently? (in other words, a total of 8k tax free?)

Thanks

[Instinctive]

Under independent tax, each joint owner needs to declare only their share of the rental profits, and against which he/she is allowed the annual personal allowance.

Therefore, you will each be allowed to use your personal allowance.

The starting rate of income tax on rental income is actually 10%, rising to 22% and then to 40%.

Ramnik