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Posted Mon, 15 Jul 2024 21:15:59 GMT by Vihango Shah
Dear sir, Me and my husband own a property. in 2022, We signed the declaration of trust in May and same time we submitted the documents to Land registary to change the ownership from joint tenants to tenants in common. They added the clause in title in June. We then submitted the declaration of trust created in May with filled Form17 and new title to the HMRC. We realised that the declaration of trust was signed a month ago and we added a clause that we are tenants in common. Now we understand that this is the mistake. HMRC then replied that our documents are accepted and the declaration is accepted and is now in force . My question is should we declare the share that we out on the form 17 or should we put joint (50%=50%) share to the tax return? I am asking this because the declaration of trust was wrongly signed(but accepted by HMRC though) . Thank you, Viha.
Posted Tue, 16 Jul 2024 12:44:44 GMT by HMRC Admin 17 Response

Hi ,
 
As jointly owned property and husband and wife, it is an automatice split of 50/50.

The form17 is therefore only applicable is this is not the case and you would show on the form what the alternative split is.

The declaration of trust must also confirm the alternative split .

Thank you 
Posted Tue, 16 Jul 2024 13:13:14 GMT by Vihango Shah
Hi, The form17 was duly filled and accepted by HMRC with the letter that the form 17 is now in force. We later found that the date of the signature on the declaration of trust is one month early then we made application for tenancy in common to land registry. Would this make the form17 invalid ? Or is it still in force ? Our alternative split is still the same. Thanks,
Posted Wed, 17 Jul 2024 11:25:04 GMT by HMRC Admin 8 Response
Hi,
It is not necessary to re-sign the Declaration of Trust nor to complete a further Form 17 as the split has not changed.
Thankyou.

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