Property Income TaxMake Text Bigger
My brother and I have for many years both been Self Employed sole traders in construction and building maintenance.
Over the last 3 years we have been concentrating more on acquiring BTL Properties and have so far built a portfolio of 14 properties which doesn’t give us much time to do any paid work, so are currently living off our rental profits.
We own the properties equally as “Tenants in Common”.
My question is; can I pay my brother for working on and managing my 50% of the portfolio, and can he pay me for working on and running his 50%?
I do understand that we can’t pay ourselves for running our own share of the portfolio, but could pay an agent or spouse or anyone else that we see fit.
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