Form 17 and associated evidence

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    Form 17 and associated evidence

    Hi all,

    I have been going thru posts on this forum for last couple of days for the issue I am facing. Scenario at my end is as below:
    - Me and my wife are owning a BTL property for last 10 months.
    - At the time of registration of property, we have provided 90:10 allocation between my wife and self to solicitor.
    - The Property registration paper I have does not have any mention about property share between myself and wife.
    - When I was trying to fill our tax return, there was no option for me to provide the joint ownership details in tax form.
    - On research, I come to know about form 17 requirement and associated proof to HMRC.
    - So for FY 2018-19, I know that the tax calculation will take place using default 50:50 share. But to keep things straight for next year, how to go about it?

    Questions:
    1) Can my solicitor (who did the conveyancing) can provide the proof? I sent a mail to them and waiting.
    2) Can I approach land registry (by doing some search) to get the allocation proof?
    3) Do I need to do a new 'declaration or deed'?

    Looking forward for your guidance.

    Regards,
    Amit

    #2
    It will either be on the Deed submitted to HMLR (but HMLR do not record the split). The original deed will be retained by the solicitor or you, or there will be a formal trust deed. ask the solicitor. In any case Form 17 cannot be activated in retrospect, so even if you do it now it will only cover part of this tax year.

    Yes there is an option on the tax form to mention joint ownership -- but you cannot do that (with a spouse) unless the form 17 has been processed.

    Comment


      #3
      Thanks Andrew.

      I got TR1 and official copy of register from the solicitor. Only the TR1 is having the %age share for us mentioned (scribbled in pencil). Is this good enough proof to submit along with form 17?

      If I need to do anything else, pls let me know.

      Thanks,
      Amit

      Comment


        #4
        The tr1 would need to be in the form of a deed. This doesn't sound too good.

        Comment


          #5
          How to go about for a deed? Is that something my solicitor should provide? Will he charge me anything extra?

          Comment


            #6
            I suugest you visit the Land Registry Online website ( avoid fake website ) and pay £3 by credit card to down load a copyof the property title for your property.

            It should show the property is in joint names and it may show tenants in common and 90:10 ratio..

            If the information is on the property title, then you should ring the tax ofice hotline and ask if Form 17 is required.?

            Comment


              #7
              Hi - Just wanted to let everyone know that I got the acknowledgement from HMRC that they have received the form 17 and the details provide is now recorded. Thanks for all your help on this matter.

              I paid £3 to get a copy of property title which was having a mention of % ownership written. I used that document as part of my Form 17 submission.

              Thanks,
              Amit

              Comment

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