Reporting of residential property gain on transfer of beneficial interest

A transfer of beneficial interest in a residential property took place by a 'declaration of trust'. Property was previously held in equal beneficial shares but A transfers to B leaving A with only 0.1% and B with 99.9%. The gain is being calculated based on MV (not at arms length). Does this need reporting under the 60 day rule and will it be based on the date of the declaration of trust? It is a deed so there is no exchange of contract date or completion date.

Hi,
Yes.  
Once a form 17 and declaration of trust is agreed, it remains in force until the couple’s interests in the property or income change, or they stop living together as a married couple or as civil partners of each other.  
This means that the declaration of trust proportions apply for capital gains purposes, should the asset be disposed of.  
If a capital gain arises on the disposal of a UK residential property, then it should be report and the tax paid within 60 days of the completion date.
Thank you.