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Claiming Tax Relief on Rental Mortgage Interest - Joint Owners
catseye
Posts: 2 Newbie
Hi
My wife and i have a rental property in joint names. We split the rental income 50/50 but as regards the mortgage interest relief (£118 monthly) can we both claim the £118 monthly relief in full, have to split the £118 mortgage interest 50/50 or only one person claim the £118 monthly mortgage relief. I ask because we can both claim the Property Income Allowance of £1,000 and wondered if same applied to the rental mortgage interest tax relief.
Many thanks
My wife and i have a rental property in joint names. We split the rental income 50/50 but as regards the mortgage interest relief (£118 monthly) can we both claim the £118 monthly relief in full, have to split the £118 mortgage interest 50/50 or only one person claim the £118 monthly mortgage relief. I ask because we can both claim the Property Income Allowance of £1,000 and wondered if same applied to the rental mortgage interest tax relief.
Many thanks
0
Comments
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both the income and expenses should be divided 50-50. so you divide the £118 between two of you £59 expense each1
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