Form 17 - in force until income change

Hi We have the change of income percent using form 17 confirmed. In the declaration of trust we've allocated 100% to my wife. On the confirmation letter from HMRC it says that it's only in force until (among others) income changes. What does need to happen when the income from the property changes? Do we need to re-submit the form 17? Do we need to create another declaration of trust? (it would be identical)

Hello, Thank you for your question. The declaration remains in place until one the following happen: 1. one spouse dies. 2. the couple separate permanently. 3. the couple divorce. 4. the beneficial interest of either spouse in either the property or income changes. For example, if one partner transfers any part of his/her beneficial interest to the other or a third party. This would require a further Form 17 to be completed and submitted with a new declaration of trust as the percentage previously declared would have changed .  Thank you .