Ability to prepare joint rental accounts in accounts production and then to split the data into each owner's personal tax return.
Current issue is that to prepare joint rental accounts, you must create a 'partnership' client. whilst you can specify that the type of income is 'rental income' the software cannot cope with splitting the income and expenses into each owners uk land and property section of the personal tax return.
Current workaround (as per the support team) is to create duplicate dummy clients for each owner because when you create the partnership client and you flow all the data from AP to BT to PT the software will want to populate the partnership pages on the personal return - which is not what you would expect.
You currently still need to re-key the income and expenses for the property in the relevant tax section on PT (and yes, you can specify joint holders and IRIS will split it for you, so you only enter the info once). but it would be better to be able to transfer the data swiftly from AP to BT to PT and from there for the property income and expenses to be split for each owner.
Louis Evangelou
