dbradsh0208

I currently hold a pension TTFAC certificate, as I started two pensions in 2023 and withdrew a very small Lump Sum from one pension only. The wording on the TTFAC states the %LTA used across both pensions, and the LS allowance used in £. However, one of the pension funds has recently conducted an internal GMP review, and as a result my pension has increased slightly. This means the %LTA used up by that pension is now slightly higher (~0.5%) than the figure used when the TTFAC was issued. In practice I don't think this makes any difference to the amount of protected LS still available. Can anyone tell me if the current TTFAC certificate is still valid? What would be the right course of action to take in this situation? I don't want to hold on to the TTFAC only to be told it can't be used when the time comes to use it in the future. I hope somebody can help with this. Thanks.

Dear HMRC I am the legal and sole owner of a BTL mortgaged rental property and want split the rental income with my wife (90% to her and 10% to me). I have established so far that: 1. This can be done by assigning a beneficial interest (rather than share legal title) to my wife 2. Assigning beneficial interest can be done with a signed/witnessed Deed of Assignment. 3. The Deed of Assignment does not need to be filed with HMRC 4. Form 17 is not required as the property is in my sole name ONLY 5. Once the Deed is signed, allowable operating expenses can also be allocated in the same ratio 6. NONE of the mortgage interest can be allocated to her as the mortgage is in my name ONLY 7. I can still use 100% debt financing costs even though my share of income is 10% 8. No asset is being transferred with a DoA, so there is no CGT liability (and there would be none anyway between husband and wife) But….I would like to clarify the position on SDLT please. I believe that as there is no chargeable consideration with a Deed of Assignment (no asset has been paid for and mortgage debt will remain wholly in my name) then it follows there should be no SDLT liability. I would be grateful if you confirm if assumptions 1 to 8 above are correct please, and if there is no SDLT implication? Thank you