If you co-own rental properties, each owner may be responsible for reporting a different share of the rental income to HMRC. This guide explains how to set the ownership percentage for each property against a linked co-owner in Making Tax Digital for Income Tax.
What you need to know
You must have already linked a co-owner to your Making Tax Digital setup before setting ownership percentages
Ownership percentages for each property must total 100% across all linked owners
Properties with no ownership percentage set will display a warning icon
Set ownership percentages
Step 1: Select "Integration" from the left navigation and select "Making Tax Digital".
Step 2: In the "Link to an owner" section, click the (i) icon next to the owner's name. Landlord Studio will display a panel listing all your properties and their current ownership percentages.
Step 3: Enter the ownership percentage for each property in the "Ownership %" column.
⚠️ Note - Ownership percentages for each property must total exactly 100% across all linked owners. Properties where the total does not reach 100% will block your MTD submission for that tax period.
Step 4: Select "Save" to apply the percentages.
If you need help setting ownership percentages, reach out via the in-app chat or at support@landlordstudio.com.