Hi harvshow B,
Thank you for your question.
Most types of trusts now need to be registered with HMRC via the Trust Registration Service. You can find guidance on the registration requirements and how to register at:
Register a trust as a trustee.
If both entitlement to the income and the property are in unequal shares, a Form 17 election can be made to allow profits or losses to be split according to their actual share of ownership in the property.
For further information, please see:
Declare beneficial interests in joint property and income.
Thank you.