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Additional revenue on form 12 who to add as having additional income.

tweety76 · 2014-10-23 12:45:37

Hi, Currently filling in form 12 online, qs with relation to income from rental property. In the section for additional revenue I can add the income from rental under A me or B my husband( we are jointly assessed). If I'm in line for paying tax on circa 3000 "profit" am I better to put my husband as the owner as he is on…

23-10-2014 12:45pm

#1

tweety76

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Join Date: September 2005

Posts: 697

Hi,

Currently filling in form 12 online, qs with relation to income from rental property.
In the section for additional revenue I can add the income from rental under A me or B my husband( we are jointly assessed).

If I'm in line for paying tax on circa 3000 "profit" am I better to put my husband as the owner as he is on the lower tax bracket and hope it will be deducted at the lower rate. If I put the rental income under my name does it mean we will end up paying tax at the higher rate( if I am the higher earner) or does it not matter ? Hope my question makes sense.
Thanks in advance,

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