Soley Owned Property

Soley Owned Property

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Can a husband who owns a property portfolio 100% in his sole name opt to split the profit 50-50 with his wife?

If so, what docs are required for HMRC purposes

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Euan's picture
By Euan MacLennan
20th Jan 2015 16:17

No

.

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Red Leader
By Red Leader
20th Jan 2015 16:25

Declaration of trust

But it can't be backdated.

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Out of my mind
By runningmate
20th Jan 2015 17:45

If the husband owns 100% of the property then 100% of the rental income is taxable on him.

The position changes if, and only if, he owns less than 100%, then things can get a little more interesting!

RM

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By King_Maker
20th Jan 2015 19:15

A copy of the DoT (or some other evidence) should accompany the completed Form 17.

There is a 60 day Time Limit for filing the Form 17 with HMRC.

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