u/I_reply_to_imbeciles

I'm reading that if my qualifying income from self-employment and rental income is £20,000 or less I'm automatically exempt from it - makes sense. My issue is that I own half of several properties and the income from those goes to a joint account with someone else (not a partner), which we treat as equally ours.

We have always reported on self-assessment 50% of our revenue and costs each. Combined, our income from these properties is over £20,000, but halved it is not.

We both also have our own PAYE-paying jobs, though I don't believe that matters.

Am I right to believe we're exempt even if on paper I am receiving over £20,000 a year to an account in my name from qualifying income?