£1,000 Property income allowance

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Dear Her Majesty’s Treasury,

1. If a property is owned jointly and let out, can one of the owners opt to use the £1,000 property income allowance (rather than deduct allowable expenses from any rental income profit) and the other owner opt not to use their property income allowance and so deduct expenses from their share (half) of the rental income?

2. If a person receives more than £1,000 rental income profit, and decides to use their property income allowance, how should this £1,000 allowance deduction be input on a tax return?

Yours faithfully,

Dan Gibney

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Dear Mr Gibney,

 

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request.

 

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clickable hyperlinks:

 

[1]https://www.gov.uk/guidance/tax-free-all...

 

[2]https://www.gov.uk/hmrc-internal-manuals...

 

[3]https://assets.publishing.service.gov.uk...

 

[4]https://www.gov.uk/government/organisati...

 

Yours sincerely,

 

Information Rights Unit  | HM Treasury, 1 Horse Guards Road, London SW1A
2HQ   |  [5]www.gov.uk/hm-treasury

 

 

 

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2. https://www.gov.uk/hmrc-internal-manuals...
3. https://assets.publishing.service.gov.uk...
4. https://www.gov.uk/government/organisati...
5. http://www.gov.uk/hm-treasury