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Posted Tue, 03 Dec 2024 13:38:20 GMT by Tom Askey
I'm looking for some clarity. I own 3 properties. 1 has a mortgage, the other 2 don't. I'm looking to add my wife onto the properties as a beneficial owner, I will retain legal ownership. I would like to either have her as 100% benefactor, or split 90% to her, and keep 10%, I'm seeing a LOT of conflicting/confusing information around how to make my wife a beneficial owner. Some are saying it's just a form I can complete, others are saying it has to be done via a solicitor. I've seen multiple recommendations for a Deed of Assignment, Deed of Trust & Form 17 and I'm just confused as to what is actually needed. Some say I need to actually change the official property deeds too. Please can you CLEARLY advise, step by step, as I want to do this correctly. 1. What forms do I need to complete? 2. Where do I get them from? 3. Do I need to involve a solicitor?
Posted Wed, 04 Dec 2024 12:53:30 GMT by HMRC Admin 19 Response
Hi, 
This forum is for general queries only and we do not provide step by step guidance. Please refer to our Trusts, Settlements and Estates Manual:
TSEM9150 - Ownership and income tax
TSEM9170 - Ownership and income tax: legal background: ownership income follows property - variation
You can assign your wife as beneficial owner of the property using a deed of trust or deed of assignment as set out here:
TSEM9520 - Ownership and income tax: express trusts - written declaration
You will not be required to submit the declaration to us, but must keep a copy for your records as this may be requested at a later date.
A form 17 election is only required when the property is held jointly and there is an unequal split of beneficial interest. You may want to seek advice from a solicitor or for more specific queries our contact details are here:
Contact HM Revenue & Customs
Thank you.

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