Transfer of deed and Form 17

metabolicacidosis

Dear all, 
   I need some advice.
  I am a landlord renting out a 3 bed house in Surrey. I am on high tax bracket ( work for NHS ) thus last year I completed a "transfer of deed " with monetary difference of 100% / 0%, with my wife getting 100% of the income. My wife is on a low tax bracket thus thought this might help us with the taxes. 
My question is, then I was told I need not complete From 17 as the property was solely in my name ( and was Not a joint property ) but all financial (100%) incentives go to my wife . Now I've called HMRC as am completing self assessment for 2019-2020 and they tell me I should have filled Form 17 form then. Is this correct ? 
  Please advise. 
  I thought Form 17 was only for joint properties. 
  Kind regards,
  MA

[Deleted User]

Form 17 does only relate to jointly held property. Moreover, it only takes effect from the date of signing.

https://public-online.hmrc.gov.uk/lc/content/xfaforms/profiles/forms.html?contentRoot=repository:///Applications/SpecPersTax_iForms/1.0/17&template=17.xdp

Jeremy535897

If one spouse transfers the income on a rental property to the other spouse, that transfer has no effect for tax. The income is taxable on the donor under the settlement provisions. To achieve a transfer of income for tax purposes, the underlying property must be transferred.