How your share works
On the property’s edit screen, set Your share of this property. From then on your income and expenses for it count at that share in the Making Tax Digital figures, the SA105 Tax Pack, the accountant’s view and your equity. The rent ledger still shows the whole rent, because that is what the tenant pays.
Each owner sends their own
Making Tax Digital is per person: each owner connects their own Government Gateway and sends their own updates. In LetCompliance the connection belongs to the account, so a co-owner who is also in Making Tax Digital opens their own account, adds the property and sets their share. Both accounts can hold the same address.
The share is the one you are taxed on
Use the share of the income you report to HMRC. If you are not sure what that is, check with HMRC or your accountant before the first update; the figure can be changed later and the next cumulative update picks it up.
Landlords on the documents are a separate thing
Who is named on the tenancy agreement, the deposit prescribed information and notices is set on the Landlords card, up to four landlords. Adding a co-owner there names them on documents; it does not change anyone’s tax share.
