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Where Taxpayers and Advisers Meet

Declaration of trust

chcas
Posts:1
Joined:Wed Apr 11, 2018 10:29 am
Declaration of trust

Postby chcas » Wed Apr 11, 2018 10:37 am

I have a Declaration of trust with my wife on a BTL flat where she owns 99% and myself 1%. This was due to the amount of work she put into managing the property and me being a higher rate tax payer. We are in the process of selling the property and our circumstances have changed where I am doing more of the work as I am no longer working full-time, and now a lower rate taxpayer. Due to the rental incomes, my wife is now a higher rate taxpayer. Is it possible to change the terms of the DoT so I own 99% and her 1%. The sale is due to go through in this tax year.

maths
Posts:8507
Joined:Wed Aug 06, 2008 3:25 pm

Re: Declaration of trust

Postby maths » Wed Apr 11, 2018 7:54 pm

Yes; simply execute a new declaration of trust.


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