8:57 AM, 24th April 2017, About 4 years ago 7
Prior to the 2nd April 2017, my brother, his wife, my wife and I owned a rental property as tenants in common in equal shares.
On the 2nd April, a Declaration of Trust was made in which my wife declared that her 25 part equitable interest in the property is held on trust for herself and our two adult children in the proportions 10 + 7.5 + 7.5. The trust was signed by all three and witnessed.
We were under the impression that HMRC should be notified within 60 days via Form 17.
However, having gone online to complete the form, we now realise that it is used only when there is a change in beneficial interest involving married couples or civil partners.
Three simple questions:
1) Is my wife obliged to advise HMRC of the new arrangement?
2) Are our children obliged to advise HMRC of the new arrangement?
3) Is there an alternative to Form 17 that should be used?
We await three simple answers!
Please Log-In OR Become a member to reply to comments or subscribe to new comment notifications.
Previous ArticleConsent to Let but will Halifax be awkward about recent dispute?
Next ArticleSDLT on transfer of mortgaged property to spouse?
|“Account”||means an account required to access and/or use certain areas and features of Our Site;|
|“Cookie”||means a small text file placed on your computer or device by Our Site when you visit certain parts of Our Site and/or when you use certain features of Our Site. Details of the Cookies used by Our Site are set out in section 13, below;|
|“Cookie Law”||means the relevant parts of the Privacy and Electronic Communications (EC Directive) Regulations 2003;|
|“personal data”||means any and all data that relates to an identifiable person who can be directly or indirectly identified from that data. In this case, it means personal data that you give to Us via Our Site. This definition shall, where applicable, incorporate the definitions provided in the EU Regulation 2016/679 – the General Data Protection Regulation (“GDPR”); and|
|“We/Us/Our”||Means Property118 Ltd , a limited company registered in England under company number 10295964, whose registered address is 1st Floor, Woburn House, 84 St Benedicts Street, Norwich, NR2 4AB.|
|Name of Cookie||Purpose||Strictly Necessary|
|JSESSIONID||Used only to collect performance data, with any identifiable data obfuscated||No|
|__cfduid||This cookie is strictly necessary for Cloudflare's security features and cannot be turned off.||Yes|
|Name of Cookie||First / Third Party||Provider||Purpose|
|__utma, __utmb, __utmc, __utmt, __utmz||First||Helps to understand how their visitors engage with our website|
|_fbp||First||Helps to understand how their visitors engage with our website|