My wife has very recently purchased a flat as a buy to let investment entirely from her own funds, but has had it registered in both our names as joint tenants. The motivation was that should one of us die the survivor would automatically become the sole owner
To reflect the fact that my wife provided the funds, a declaration of trust was drawn up naming my wife as the beneficial owner. She will declare the entire rent for the first time on her 2016/2017 self- assessment.
We have been advised that in the light of the declaration of trust, and the fact that she will receive the entire rent, there will be no requirement for a form 17.
Have we been correctly informed?
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