Updating post from Reddit.
We've moved out of our house and let it out.
Can we use Form 17 to declare different interest? I'd like to take full share of the income as I'm responsible for the house/management and have paid more. My other half is fine with me having more of a interest in the property.
Can I do 100% / 0% of the income? Or will that exclude them from the house/mortgage etc?
Or should I do 99% : 1%?
Any advice welcome.
I've always only seen 99%/1%, so i'd presume thats the maximum.
Thanks
I think you're misunderstanding the point of form 17. Form 17 applies to married couples. In the case of marriage rental income and expenditure always have to be declared in exactly the same ratio to actual beneficial interest. For example 1 spouse owns exactly 30% then they declare 30% of income and expenditure. However the default position with HMRC is that if you fail to declare a differential split other than 50% then it remains at 50% until you submit such a declaration regardless of the beneficial ownership. The form 17 is this declaration. You cannot use form 17 to declare a split different from that implicit in the actual ownership that is not its purpose.
HMRC will want to see the deed of trust showing differential ownership as part of the form 17 processing or may ask for it afterwards.