Deed of assignment

Hi ,
 

Thank you for your question. Most types of trust giving an interest in property to someone who is not the legal owner, now need to be registered with HMRC via the Trust Registration Service. You can find guidance on the registration requirements and how to register here : Register a trust as a trustee  . There is also more information about what type of trusts need to be registered here: Trust Registration Service Manual  . Late registration can result in a £5000 fine. As the property is not held in joint names, a Form 17 election is not appropriate . The person who pays the mortgage can claim tax relief on the interest . You can claim mortgage relief if you held a beneficial interest in the property . Thank you .

Dear HMRC, Please advise if the deed of assignment (transfer of beneficial interest) to be registered on HMRC TRS as an express trust? Thanks

Hi Binod,
Thank you for your question.
Details of trusts that need to be registered can be found at: 
TRSM23000 - Types of trust that need to be registered: contents: excluded express trusts: contents.
If you require any further guidance you can call the trust helpline on 0300 123 1072. 
Thank you.