Does Form 17 apply from the date it's signed or is it back-dated to the start of the tax year ?
Replies (5)
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See the legislation. Applies from the date of the "declaration" (which is not form 17).
However to be effective for income tax purposes form 17 must be filed within 60 days of the declaration.
Don't think that I agree with that, although am happy to have it confirmed. I thought that if you filed a form 17 that was dated more than 60 days prior, the declaration was still effective but only as from the date 60 days prior to receipt by HMRC.
Will be interested to have that confirmed or refuted. I doubt that it is a very common issue
With kind regards
Clint Westwood
Form 17 is just a notice of confirmation to HMRC of the split. The actual split is on the date of signature of the agreement.
Form 17 must be submitted within 60 days of the date of the declaration/signature to be accepted by HMRC and cannot be backdated, the time limit is strictly enforced and there is no power for extension.
See this article for detail:
Property tax: Form 17 -Get the Detais Right
https://www.accountingweb.co.uk/tax/personal-tax/property-tax-form-17-ge...