The Joint Property Easement
HMRC gives joint landlords a choice for jointly let property: report income and expenses each quarter as usual, or report income only in quarterly updates and add the related expenses before you submit your tax return.
Quarterly updates
Your share of gross income for jointly let properties — or full income and expenses if you prefer not to use the easement.
Before your tax return
If you chose income-only quarterly updates, add your share of joint-property expenses (and any year-end adjustments) before you submit your tax return.
Digital records can be simpler too
For your share of jointly let property, HMRC allows one digital record per income category per quarter (for example one £3,000 entry for the quarter's rent rather than three separate £1,000 receipts), and one record per expense category for the tax year.
Solely owned property is different
The easement only applies to the jointly let portion. If you also own rental property in your own name, quarterly updates for those properties still need income and expenses each quarter.
Co-owners do not need to digitally link their records to each other's — separate spreadsheets or advisers are fine.
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