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Posted Tue, 09 Apr 2024 14:47:25 GMT by Lucyb23
My husband owns a flat in Scotland from prior to our marriage. We are adding my name to the title deeds and the mortgage. Are we able to split the income from the property differently to 50:50 by way of a form 17? I have seen that you need a declaration or deed to show this but do these exist in Scotland? My income is soon to reduce and so gaining the full income from the flat would be beneficial to me. Can we have a situation where I have 100% or 90% of the income from the property even though we both own it? The guidance on this is not clear at all.
Posted Tue, 16 Apr 2024 10:02:18 GMT by HMRC Admin 2 Response
Hi,

Deeds of trust are available in Scotland but should not be confused which trust deeds which are a  separate matter.  

You can use a deed of trust to change the beneficial ownership of the property and the ownership of the property and any income arising from it to a share other than 50:50.  

A deed of trust is a legal document not just for Income Tax purposes. You would be changing the actual ownership of the property into the shares shown on the deed of trust for all legal purposes.

Thank you.

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