Deed of Assignment Question
Tax Planning and Financial

0 Thanks
2 Posts
7 months ago


After working overseas for several years I returned to the UK in late 2021 with the intention of retiring.  That didn't quite work out and I agreed to continue working remotely on a reduced hours consultancy basis.  All good except now I was faced with how to best manage my UK tax affairs including rental income from 2 properties, pensions and my consultancy work.

Early in 2022/2023 tax year I found out about the possibility of using a deed of assignment of benficial interest (property) and so decided to set them up transferring 100% beneficial interest to my wife.  As a sole owner this also meant that rule 17 was not applicable.

I spent some time on the HMRC community forum reviewing any deed of assignment related questions and, at first, it seemed straightforward. A HMRC agent said I just had to have the DOA in place, I didn't have to submit it/them, just keep them in case they were requested at a later date.  So this is what I did.

However, after that I continued looking at the HMRC forum and started to see conflicting advice which suggested that, among other things, I had to show that all relevant monies were being paid to my wife rather than just into the business account I use for that purpose.  Additionally, I consulted a "tax professional" who gave me more conflicting information and said that the only way I could do this was to transfer the deeds to my wife or put them in joint names.

Does anyone here have experience of using a DOA to transfer the income to someone else or can anyone tell me what I need to do to be able to set this up properly?

Many thanks in advance for any advice!

Please Login

You must be logged in to participate in our forums, to continue please login below.

Not a member? From only £99 you can join in the discussion and get access to member's only resources and services.

As the home for landlords, the NRLA are here to help you save time, save money, and stay compliant. NRLA membership gives you access to a vast range of expertise, resources, and exclusive member benefits and savings, designed to help and empower members. We also play a pivotal role in campaigning and championing the interests of landlords.