Married couple and property income tax nightmare.
Posted: Thu Aug 30, 2018 9:24 pm
Hi, bit of a headache, wife and I own some properties, some individually, some joint. Joint are just down the middle.
We do the tax returns with just one of us. It's actually the higher earner who does the returns with all income declared from all properties however the non payer is now under investigation for non payment despite the fact that the payer probably paid more tax than works be due if it was all split. It was done this way because we had no idea it was an issue provided everything was declared and paid for.
Were at a bit of a loss of what to do for the best?
Can anyone help please?
We do the tax returns with just one of us. It's actually the higher earner who does the returns with all income declared from all properties however the non payer is now under investigation for non payment despite the fact that the payer probably paid more tax than works be due if it was all split. It was done this way because we had no idea it was an issue provided everything was declared and paid for.
Were at a bit of a loss of what to do for the best?
Can anyone help please?