SELF EMPLOYED & LANDLORDS
Jointly owned rental properties
What is this?
Over 500,000 taxpayers in the UK own a rental property with one or more other people. So we’ve developed a simple solution to make life easier for ApariSolo users.
Joint ownership can be tax efficient, for example, if you’re a couple and fall into different tax brackets. But it can also increase tax admin, as the property income and expenditure must be split between the owners, and they each need to do their own tax return.
Why do I need this?
ApariSolo's joint property feature allows one of the owners to do all of the bookkeeping for the property on behalf of all owners. The correct percentage of income, expenses and profit are automatically sent to each owner’s ApariSolo account. You can also export the transactions if the other owner is not using ApariSolo yet.
This works for any number of owners and any percentage split. It also works if you have a portfolio of properties which are jointly owned by different people.
How do I do this?
Go to Profile & Settings and click on Business Sources and then Add new UK Property.
Enter the details of the property:
Type in a Name for the property
Enter the correct and exact address of the property so that any imported rental statements will be allocated by ApariSolo AI to the correct business source
Toggle the joint property option to Yes and enter the % amount of ownership, finally select Confirm
If the other owner is also using ApariSolo, on the Business sources screen, select the 3 dots by the newly created property and select Share and enter the email address of the client with whom the property is shared.
Please ensure you adjust the date of when the Share transactions from to either the start of the tax year or from when the property was first jointly owned.
Note: This is very important and cannot be edited afterwards. Any rental statements entered into the software prior to the date selected will not have income/expenses split between the owners.
Select Confirm.
Finally, if the other owners are using ApariSolo, get them to log in to their account, navigate to Profile and Settings then Business Sources, and they will be able to accept the shared property invite.
By completing this process any transactions created for the property on your account who shared the property will be split between the owners as per the percentage ownership split.
Note: Transactions must be created on the account of the owner where the property was originally created and from where it was shared.
If you need any assistance please check out the other articles in our Help Centre for how to get started using your account and if you have any further questions you can contact our support team here.
What is this?
Over 500,000 taxpayers in the UK own a rental property with one or more other people. So we’ve developed a simple solution to make life easier for ApariSolo users.
Joint ownership can be tax efficient, for example, if you’re a couple and fall into different tax brackets. But it can also increase tax admin, as the property income and expenditure must be split between the owners, and they each need to do their own tax return.
Why do I need this?
ApariSolo's joint property feature allows one of the owners to do all of the bookkeeping for the property on behalf of all owners. The correct percentage of income, expenses and profit are automatically sent to each owner’s ApariSolo account. You can also export the transactions if the other owner is not using ApariSolo yet.
This works for any number of owners and any percentage split. It also works if you have a portfolio of properties which are jointly owned by different people.
How do I do this?
Go to Profile & Settings and click on Business Sources and then Add new UK Property.
Enter the details of the property:
Type in a Name for the property
Enter the correct and exact address of the property so that any imported rental statements will be allocated by ApariSolo AI to the correct business source
Toggle the joint property option to Yes and enter the % amount of ownership, finally select Confirm
If the other owner is also using ApariSolo, on the Business sources screen, select the 3 dots by the newly created property and select Share and enter the email address of the client with whom the property is shared.
Please ensure you adjust the date of when the Share transactions from to either the start of the tax year or from when the property was first jointly owned.
Note: This is very important and cannot be edited afterwards. Any rental statements entered into the software prior to the date selected will not have income/expenses split between the owners.
Select Confirm.
Finally, if the other owners are using ApariSolo, get them to log in to their account, navigate to Profile and Settings then Business Sources, and they will be able to accept the shared property invite.
By completing this process any transactions created for the property on your account who shared the property will be split between the owners as per the percentage ownership split.
Note: Transactions must be created on the account of the owner where the property was originally created and from where it was shared.
If you need any assistance please check out the other articles in our Help Centre for how to get started using your account and if you have any further questions you can contact our support team here.
What is this?
Over 500,000 taxpayers in the UK own a rental property with one or more other people. So we’ve developed a simple solution to make life easier for ApariSolo users.
Joint ownership can be tax efficient, for example, if you’re a couple and fall into different tax brackets. But it can also increase tax admin, as the property income and expenditure must be split between the owners, and they each need to do their own tax return.
Why do I need this?
ApariSolo's joint property feature allows one of the owners to do all of the bookkeeping for the property on behalf of all owners. The correct percentage of income, expenses and profit are automatically sent to each owner’s ApariSolo account. You can also export the transactions if the other owner is not using ApariSolo yet.
This works for any number of owners and any percentage split. It also works if you have a portfolio of properties which are jointly owned by different people.
How do I do this?
Go to Profile & Settings and click on Business Sources and then Add new UK Property.
Enter the details of the property:
Type in a Name for the property
Enter the correct and exact address of the property so that any imported rental statements will be allocated by ApariSolo AI to the correct business source
Toggle the joint property option to Yes and enter the % amount of ownership, finally select Confirm
If the other owner is also using ApariSolo, on the Business sources screen, select the 3 dots by the newly created property and select Share and enter the email address of the client with whom the property is shared.
Please ensure you adjust the date of when the Share transactions from to either the start of the tax year or from when the property was first jointly owned.
Note: This is very important and cannot be edited afterwards. Any rental statements entered into the software prior to the date selected will not have income/expenses split between the owners.
Select Confirm.
Finally, if the other owners are using ApariSolo, get them to log in to their account, navigate to Profile and Settings then Business Sources, and they will be able to accept the shared property invite.
By completing this process any transactions created for the property on your account who shared the property will be split between the owners as per the percentage ownership split.
Note: Transactions must be created on the account of the owner where the property was originally created and from where it was shared.
If you need any assistance please check out the other articles in our Help Centre for how to get started using your account and if you have any further questions you can contact our support team here.
