Unequal shares in a joint property

Are we eligible to fill out a form 17 if, as husband and wife we jointly own a property but we would like to split the rental income unequally (my husband works and I do not hence the wish to split the income unequally in favour of the non-working spouse)?

Hi ,
 

Yes you are eligible.  You will need to include a deed of trust with the Form 17. Thank you .

I have looked into this a bit further and I am unsure how we are eligible. We own the property in equal shares, however I am taking sole responsibility for the management of the property and I have been advised by an accountant that provided we include a deed of trust, I am eligible to take 70% of any profit from the rental income and my husband 30%. I have just attempted to complete the form 17 but I can't see where I attach a deed of trust or what exactly that deed looks like. Many thanks again for your help.

Hi,
Thank you for your question. As per your previous question and response given, as your husband and yourself jointly own the rental property, HMRC would as default, believe the property is split 50/50%. Upon completing the Form 17 and subsequent Deed of Trust, this would legally transfer beneficial interests to your husband. You may wish to consider a Declaration of Trust if you do not wish to alter the legal percentage split, just the interests in the rental property. TSEM9851 refers to evidence required when completing the Form 17 declaration: https://www.gov.uk/hmrc-internal-manuals/trusts-settlements-and-estates-manual/tsem9851.
Thank you