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Declaration of trust
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olivia97
Posts: 1 Newbie
Looking to create a declaration of trust for rental income tax purposes, as advised by my accountant. I have written one up using ‘rocket lawyers’ though wasn’t sure if I needed to use a solicitor to get one. Any advice would be appreciated.
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Comments
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If you want an agreement that is legally binding and watertight, use a qualified solicitor and should it ever be needed, all of a sudden it will seem cheap at the price.
🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
Balance as at 01/09/23 = £115,000.00 Balance as at 31/12/23 = £112,000.00
Balance as at 31/08/24 = £105,400.00 Balance as at 31/12/24 = £102,500.00
£100k barrier broken 1/4/25SOA CALCULATOR (for DFW newbies): SOA Calculatorshe/her2 -
you do not need a solicitor for a declaration of trust re direction of rental income
are you married and is this to split income between you and your spouse?
if yes, do this: Declare beneficial interests in joint property and income - GOV.UK (www.gov.uk)
the actual DoT itself must be in writing, but can be only a few words
read: HMRC Guidance | Deed of Trust0
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