Citi Accounts | Accountants for Landlords With a jointly-owned property, the way in which the rental income can be split between the joint owners for tax purposes depends on whether the joint owners are married or in a civil partnership or not. Married couples and civil partners Where a property is jointly owned by a married couple or civil partners, the basic rule is that the rental income is split equally, regardless of the actual underlying ownership. Example John and Lisa are married. They jointly own a flat in which […]
CIS tax refund What is a CIS tax refund? A CIS tax rebate (also called a refund) is money that can be claimed from the HMRC where you have paid more tax than you actually owe! At Citi Accounts, we are dedicated to winning back your hard earned money quickly and effectively. On average, our clients get an average refund of £2,000 each year. Most self-employed or subcontracting workers in the construction industry are owed a tax refund every year due to the Construction Industry Scheme (CIS). Some of the reasons […]