DonGray58 Gray

Declaration of Trust? Is it a simple document (signed and dated by both) stating my wife has xx% interest and I have the remaining yy% interest in the property sufficient evidence to accompany form 17 ? Or do I need to get a lawyer to draw something up? Thanks

We are selling a second property and I’ve read we can assign the capital gain to either myself, my wife or split the gain 50/50. My first question is can we split the gain by any percentage which is beneficial to us to minimise the CGT we have to pay? Eg could we split the gain 12 / 88 % to me / my wife as I am close to paying higher rate tax and she is not. What type of document do we need to submit to HMRC to notify this split? Will a simple declaration signed by both of us and a witness do ?

Thank you for the clarification

I understand that the £5000 allowance diminishes by £1 for every £1 of “other-income” over the personal allowance. However this other income isn’t fully defined online just examples such as wages , pensions etc. HMRC Admin 25 gave a reply to a similar question. - “Posted 8 months ago by HMRC Admin 25 Hi Eric01 Kendall, The income would be any income which is not from savings, such as employment, self-employment and rental income.” What about interest on savings overseas. Eg I have interest earned in Jersey, which is classified as foreign income. Will this foreign interest reduce my £5000 Starting rate for savers allowance on interest earned in the UK . I realise I can’t use the SRFS allowance to offset the foreign interest. THANKS 

Name removed admin .