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Deed of Trust - Self Assessment

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.

Comments

  • TamsinC
    TamsinC Posts: 625 Forumite
    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 Minchin
  • 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?
  • 00ec25
    00ec25 Posts: 9,123 Forumite
    1,000 Posts Combo Breaker
    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.
    did you send a Form 17?

    technically a DoT on its own is not the correct paperwork
    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?
    yes, we have been taxed as individual people not mirror couples for decades
  • Thanks - yes - did send in the Form 17 along with the Deed of Trust and got a letter back from HMRC to acknowledge receipt.
  • anselld
    anselld Posts: 8,751 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    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?
  • Yes - did it all in late February 2017
  • 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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