Transferring beneficial interest of BTL Property in Scotland.

I own 100% of a BTL property I want to transfer 100% (or 99%) of the beneficial interest (rental income) in this property to my wife. The Answers on this forum seem to vary re the above. Can I do this simply by creating a "declaration of trust" indicating the split, and "NOT" notifying HMRC within 60 days? If I need to notify HMRC and get their approval, how do I do this? Form 17 only applies if we have joint ownership, so I cannot fill out form 17. My tax accountant is saying I need to change the actual Deed (i.e. to get joint ownership), which according to answers from HMRC on this forum is not accurate. I have created the declaration of trust (which is simply a signed document between myself, my wife and a witness, acknowledging the split of beneficial interest). Is this all I have to do to then declare the rental income to my spouse at the end of the tax year? I do not want to pay a lawyer £3k to carry out the same thing if it isn't necessary so please clarify.

Hi Ross Olusanya,
The declaration of trust is all that is required as the property is not in joint names.
HMRC will issue an acknowledgement to you to confirm the date the transfer is effective and your wife will declare her share(or revised share) from that date.
Thank you.

Thanks for your response, How do I notify HMRC of the declaration of trust so they can issue the acknowledgement you mentioned? Thanks Ross

Hi,
More information about written declaration of trusts can be found below:
TSEM9520
If you send us a copy of the declaration we will acknowledge this in writing.  
Thank you.