Joint BTL Expenses split

[anjo56]

My son and I have a BTL property with ownership 99% in his name and 1% in mine. We have split income and expenditure for tax purposes in this ratio till now This year there have been some significant expenses that I have funded alone. Should I continue to split or declare solely on my Self Assessment? He won't be repaying these so do I need to consider them also as gifts for IHT purposes. Any clarification most welcome please. Thank you.

[pawncob]

https://www.gov.uk/hmrc-internal-manuals/property-income-manual/pim1035




Jointly owned property: no partnership
Where there is no partnership, the share of any profit or loss arising from jointly owned property will normally be the same as the share each person owns in the property being let. But joint owners can agree a different division of profits and losses and so occasionally the share of the profits or losses will be different from the ownership share in the property. The share of profits and losses for tax purposes must be the same as the share actually agreed. See below for the special rules for spouses and civil partners.