[GNC] Reporting combinations of accounts

Michael or Penny Novack stepbystepfarm at comcast.net
Thu Apr 30 13:19:03 EDT 2020


On 4/29/2020 6:51 PM, Ruaraidh wrote:
> I'm in the UK where married couples are taxed separately and have to file
> separately.

And if you did the research you said in that you perhaps also saw 
reference to arranging assets (income producing assets) between the 
marriage partners to that into account.

In other words, you perhaps want to keep full separate books for self 
and spouse. Or in the same set of books but partition income (and maybe 
expense if some have tax consequences) and perhaps some assets and 
liabilities. How you would proceed would depend on what easiest.

Michael D Novack

PS: I would find it hard to believe that there are not books/texts in 
the UK advising how to do this.





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