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Deed of Trust - Self Assessment
ianpalmer2007
Posts: 106 Forumite
I have completed all the forms / paperwork so that for the last tax year 2017/18 my wife has 99% of the rental income from a property we own and I have the remaining 1%.
Now I am filling in my own self assessment do I put 1% of all the income and expenses figures in the appropriate boxes for me or do I put 100% and wait for a box to appear that allows me to say I have 1% ownership?
These are small figures for me - rental income at 1% would be £60 and expenses at 1% would be £30.
HMRC did acknowledge the Deed of Trust in writing so I am guessing I don’t have to inform them that I have reduced from 50/50 to 99/1 on this return? I half expect them to query why my tax has reduced.
Now I am filling in my own self assessment do I put 1% of all the income and expenses figures in the appropriate boxes for me or do I put 100% and wait for a box to appear that allows me to say I have 1% ownership?
These are small figures for me - rental income at 1% would be £60 and expenses at 1% would be £30.
HMRC did acknowledge the Deed of Trust in writing so I am guessing I don’t have to inform them that I have reduced from 50/50 to 99/1 on this return? I half expect them to query why my tax has reduced.
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Comments
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just put what YOU got
(a box wont appear - though you can tick the £1000 allowable expenses box)“Isn't this enough? Just this world? Just this beautiful, complex
Wonderfully unfathomable, natural world” Tim Minchin0 -
So I can take the £1000 allowable expenses route and when we complete my wife’s SA we can choose the “deduct expenses” option for her as it is to her advantage- as we are treated individually?0
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did you send a Form 17?ianpalmer2007 wrote: »HMRC did acknowledge the Deed of Trust in writing so I am guessing I don’t have to inform them that I have reduced from 50/50 to 99/1 on this return? I half expect them to query why my tax has reduced.
technically a DoT on its own is not the correct paperwork
yes, we have been taxed as individual people not mirror couples for decadesianpalmer2007 wrote: »So I can take the £1000 allowable expenses route and when we complete my wife’s SA we can choose the “deduct expenses” option for her as it is to her advantage- as we are treated individually?0 -
Thanks - yes - did send in the Form 17 along with the Deed of Trust and got a letter back from HMRC to acknowledge receipt.0
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ianpalmer2007 wrote: »Thanks - yes - did send in the Form 17 along with the Deed of Trust and got a letter back from HMRC to acknowledge receipt.
And did you send all that prior to April 2017?0 -
Yes - did it all in late February 20170
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Morning
Has anyone got a blank template for a Deed of Trust to support HMRC Form 17 please that they could send me
Thank you
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