If you co-own properties with other landlords, each owner needs to report their own share of income and expenses to HMRC. Update each owner's percentage in Landlord Studio so your Making Tax Digital submissions are split correctly.
Before you start
You need to be connected to HMRC for Making Tax Digital before you can manage ownership percentages. The owners must be created under Contacts > Owners
Update an owner's percentage
Step 1: From the left navigation, select "Making Tax Digital", then select "Manage ownership" in the right-hand panel.
Step 2: Select the percentage you want to update. You can update the percentage for your organisation, or for a specific property.
Step 3: Update each owner's percentage and select "Save".
Percentages should total 100%. If they don't, your Making Tax Digital submission may not match HMRC's expected figures.
If you need help with ownership splits, reach out via the in-app chat or at support@landlordstudio.com.