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tax planning - rents
Tax Planning and Financial

Chris White
Chris White
3 Thanks
153 Posts
12 years ago
0
Where husband and wife jointly own rental property, the legislation assumes that they will each be taxed on 50% of the income unless they declare that ownership of the property is in different proportions (say 90/10) and complete a Declaration of Beneficial Interests – HMRC form 17. There also has to be a Declaration of Trust as evidence of this.
Here’s a link to quite a good article on the subject. http://www.taxguide.co.uk/content/declaring-interests-joint-property

What I’m not sure about is whether this can cause problems with a lender if there is a joint mortgage and you want to change the proportions.

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