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  • Declaration of trust - splitting rental income

    Dear respected Admins I own a sole ownership property outright zero mortgage on my name I would like to split the rental income with my spouse as she's not employed and benifits from lower tax and ofcourse the tax free allowance 1. Once the declaration of trust is produced, does it needs to be registered with HMRC's trust registration service? 2. Does declaration of trust need to be registered with HMRC 3. Do I need to complete form 17 4.trading allowance of £1000 can both couple use it or only 1 person. 5. Is declaration trust the right document if we are only splitting the rental income and does it need to be produced with a solicitor or can I draft one myself. I apologise if any of the questions have already been covered Thanks