Adding Additional Owners In Overseas Tax Cases:
When adding details for Overseas Landlords it is essential that in the case of multiple owners they are all added as separate Landlord Records.
N.B This includes married couples as they will now require independent HMRC exemption codes. Please note that all future income and expenditure will be split and separate statements generated. For more information, please visit the HMRC website.
If there are no financial transactions on the Landlord ledger you can;
- Add additional owners
From the Property Record, Add Additional Landlord.
Once the additional Landlord has been added, you will need to change the Ownership Summary.
Edit Ownership Details - This will allow you to customize the percentage or split the ownership equally.
If there have been financial transactions on the Landlord ledger
- You will need to follow the Changing The Ownership Of A Rented Property Article.