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Posted Sat, 28 Sep 2024 07:50:25 GMT by B Poppy
Hello, Please could you clarify our situation as I'm getting more confused the more I read into it... Me and my partner are married. We have 50/50 ownership of a buy to let property. My partner is in the higher tax bracket. I am in the lower tax bracket. I want to keep ownership of the property 50/50 but split income 100% to me and 0% to my partner. Can you confirm this is ok to do so? Do we require to complete anything additional to support this? Thanks in advance!!
Posted Mon, 07 Oct 2024 14:01:17 GMT by HMRC Admin 18 Response
Hi,

You will need to submit a form 17 and declaratoin of trust to amend the beneficial split:

Declare beneficial interests in joint property and income

Thank you.

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