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Step-by-step Guide

How to use the joint property income calculator

Article ID: 3341
Last updated: 12 Oct, 2023

The joint property income calculator is available in SimpleStep mode within the UK Property and Furnished Holiday lettings in the EEA pages, accessible from each property record created. Unlike the joint income importing functionality which assumes a 50% split, the calculator allows for the apportionment of property income and expenses based on the percentage entered. The total income and expenses can either be entered manually or via 'Import Accounts'.

In SimpleStep mode:

  1. Browse to Other income > UK Property and Furnished Holiday Lettings in the EEA
  2. Select either Furnished Holiday Lets - Income or Other rental income
  3. Tick the box If this property is let jointly, do you want to use the joint property income calculator?
  4. Enter the relevant percentage in What is your share of this property income?
  5. Enter property income and expense totals manually or use Import Accounts to update the values from Accounts Production

The share of the totals will automatically populate in the Individual Share column.

When you choose this method of data entry, the joint income importing wizard for another return will recognise that the joint property income calculator has been used and will import the total income and expense values into the new tax return. You will then be prompted to enter the percentage split for the new return and the income and expenses will be calculated accordingly.

Note - the total income and expense values in the return are held within the return itself. This means that if you change the total income and expense values in one return, you would need to re-import the information into another return (or make the amendments again on the other return manually).

Article ID: 3341
Last updated: 12 Oct, 2023
Revision: 7
Views: 273
This article was:  


Also listed in
folder Tax Return Production -> SA100 Individual Return