Declaration of Trust a step by step process

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    #16
    Originally posted by daxu View Post
    I think I worked it out now.
    For simple cases (changing from joint tenants to tenants in common), I should
    1. fill in form SEV
    2. fill in declaration of trust document correctly.
    3. Send both doc to land registry
    4. fill in form 17 and send to hmrc

    Think it is all I need to do.


    I think if you + wife are already registered as " joint tenants" , there is no need to change the registration at Land Registry.

    The Tax Office will consider your rental profit is split 50/50 but you can change the rental profit distribution by producing a "trust document" or "declaration" and using Form 17 to inform the Tax Office of the commencing date ( which cannot be back-dated.) . Not necessary to submit any docs to Land Registry.

    https://www.accountingweb.co.uk/tax/...-details-right

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