Change the ownership percentage for your property business
Description
The ownership percentage tells HMRC your share of the income and expenses for a jointly owned property.
EXAMPLE:
If you own a property 50/50 with a partner, set this to 50%.
You can change the ownership percentage at any time before you submit your first quarterly update. Once you've submitted your first quarterly update, you can't make any changes.
Cause
Resolution
From the menu, go to Income tax.
In the Property business section, select Manage business details.
In the Business details window, find Ownership percentage.
Select Change ownership percentage.
Enter the correct percentage, then save your change.
Select Close to return to the Income Tax page.
Your new ownership percentage applies to all your properties. Sage uses it to calculate your share of the income and expenses.
You can only change the ownership percentage before you send your first quarterly update. If you've already submitted, contact HMRC to correct your records.