Form 17 - can I use it?

Hi, My wife and I own two rental properties. We are joint tenants on both. I have a full-time job, while my wife looks after both rental properties. Property A - Regular mortgage Property B - During the remortgage, we asked solicitors to change the proportion of property we owned/benefitted from. I believe it was done by deed or declaration of trust (10/90 benefiting my wife). Can I use Form 17 in both or any of those cases? Kind regards, Daniel

Hi,
Thank you for your question.
Form 17 can be used if you jointly own the property with your spouse and want to change the split of income from it for tax purposes.
If you are looking to do this with either property then you can complete Form 17 available at:
 Declare beneficial interests in joint property and income
You must also send in evidence to support the change in split.
More information can be found in:
 TSEM9800 - Property held jointly by married couples or civil partners: contents and
TSEM9842 - Property held jointly by married couples or civil partners: Form 17 rule: introduction
Thank you.

Property A has been rented since September 2023, but we will write our declarations today. Can I backdate it like this, or will that only work from now on?

Hi ,
 

Declarations take effect from the date that the Form 17 is signed.  A declaration therefore cannot be backdated.  The Form 17 declaration must also be given to HMRC within 60 days of the date of the declaration.  The declaration time limit of 60 days must be enforced strictly S837 3(b) ITA2007.  There is no power to extend it .  Thank you .