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Where Taxpayers and Advisers Meet

Tenants in Common & DoT Query

FreeBeerForAll
Posts:1
Joined:Thu Aug 19, 2021 1:02 pm
Tenants in Common & DoT Query

Postby FreeBeerForAll » Thu Aug 19, 2021 1:06 pm

Hi All,

For a new purchase, is it mandatory that the Tenants in Common registration via TR1 should match the intended beneficiary split or can we register Tenants in Common at 50:50 and give benefit at 100%:0% for the treatment of income for tax purposes (we are married and I'm a higher rate tax payer going into marginal rate potentially, my partner is basic rate).

Thanks for your help,
FBFA

pawncob
Posts:5090
Joined:Wed Aug 06, 2008 4:06 pm
Location:West Sussex

Re: Tenants in Common & DoT Query

Postby pawncob » Thu Aug 19, 2021 8:11 pm

https://www.gov.uk/government/publications/income-tax-declaration-of-beneficial-interests-in-joint-property-and-income-17
With a pinch of salt take what I say, but don't exceed your RDA


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