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Posted Thu, 06 Oct 2022 16:10:28 GMT by Bally53
I am considering a Deed of Assignment to transfer 30% Beneficial Interest of a property 100% owned by me to my spouse. I know Form 17 is not required as I am the sole owner. There is no consideration and no mortgage so no SDLT form required - is this correct? Will this assign 30% of the rent to him and also 30% of any capital gains on sale? Do I have to send the Deed of Assignment to HMRC?
Posted Thu, 13 Oct 2022 09:21:32 GMT by HMRC Admin 20
Hi Bally53,

Yes once you transfer part of the property, your husband is then entiled to the same percentage on the rental and any gain.
You also need to inform HMRC of this by sending the deed of assgnment.

Thank you.
Posted Thu, 13 Oct 2022 13:48:43 GMT by Bally53
Clarification needed as I am now confused! I asked the same question on a different thread and received a different reply from Admin 2 only 2 days ago. See thread below - Posted 7 days ago by Bally53 Thanks for the reply. Do I have to send the Deed of Assignment to HMRC so that they know I have transferred 30% beneficial interest? Or do I just keep it in case I am asked to produce it? Posted 2 days ago by HMRC Admin 2 Hi, As you are the sole owner of the property you do not need to send the deed of assignment to us, but you should keep this in a safe place in case it is requested in the future. To be clear. The property is in my sole name at HMLR and is staying that way. Deed of assignment (not Deed of Trust) transferring 30% of beneficial ownership to spouse for NIL consideration.
Posted Mon, 17 Oct 2022 13:55:31 GMT by HMRC Admin 17

You do need to send the deed of assignment so that HMRC are aware of the change in beneficial ownership as this will be relevant
to any rental income or future gain that arises   .

Thank you.
Posted Thu, 08 Dec 2022 23:50:07 GMT by lakin997
Hi Can you confirm what address to send HMRC this deed of assignment to? Can you also confirm how long will it take HMRC to respond to execute this deed? i.e. confirm the deed of assignment has been accepted and is valid? Thank you, Lisa
Posted Mon, 12 Dec 2022 14:30:50 GMT by HMRC Admin 17

A deed of assignment relating to personal tax, should be addressed to

HM Revenue and Customs,
BX9 1AS. 

All post is dealt with in date order and as there is a backlog of post, it may be several months before it can be processed.


Thank you.
Posted Mon, 12 Dec 2022 19:11:16 GMT by lakin997
Thank you HMRC for the response. Can you confirm if I can execute the changes indicated by the deed of assignments into action from the day it is witnessed and signed or will have to wait for verification/confirmation from hmrc on their assessment of it before I execute the deed?
Posted Wed, 14 Dec 2022 15:39:43 GMT by HMRC Admin 32

The deed would need to be in place first.

Thank you.

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