Mark McLaughlin points out that identifying who is taxable on property rental income is not necessarily a straightforward task.
It is common for assets such as an investment property to be jointly owned by spouses (or civil partners). As a general rule, both spouses are treated for income tax purposes as beneficially entitled to the rental income in equal shares (commonly known as the ‘50:50’ rule).
The 50:50 rule generally applies while the couple are living together (although see below for exceptions to the 50:50 rule). For these purposes, a married couple are treated as ‘living together’ broadly unless the spouses are separated under a court order or by deed of separation, or they are in fact separated in circumstances in which the separation is likely to be permanent.
Your tax or mine?
If the 50
