HMRC Admin 21 Response

Hi Timato,
Thank you for your question, this is correct, you do not need to provide a copy to HMRC but you must keep a copy for your own records as it may be requested from you at a later date. 
Please see guidance available at: TSEM9520 - Ownership and income tax: express trusts - written declaration regarding written declarations of trust. This guidance advises ‘A declaration of trust is usually a statement by the legal owner of property that s/he holds the beneficial interest for someone else. S/he is not transferring the legal title. (See by contrast TSEM9530.) The beneficiary has an equitable interest created by the declaration which can be enforced by the courts. The donor/trustee does not need to register the trust with the Land Registry, nor does the document require delivery or a witness to signatures.’ This guidance also provides guidance on the creation of a declaration of trust. 
TSEM9170 - Ownership and income tax: legal background: ownership income follows property - variation also states both a declaration of trust or deed of trust are acceptable for this purpose. 
Thank you.

Hi georgealder21,
Thank you for your question.
 I am unable to answer this question without seeing a copy of the blind trust you have had drafted.  
Please send a copy of any documents you have to HMRC at:
Pay As You Earn and Self Assessment,
HM Revenue and Customs,
BX9 1AS,
United Kingdom.  
We will then be in a better position to advise you.
Thank you.

 

Hi,
Thank you for your question.
To declare unequal beneficial interests in jointly owned property, you must complete a Form 17.  
This can be done online at: Declaration of beneficial interests in joint property and income  
You will also need to provide a declaration or deed of trust.
For more information about jointly help property, please refer to our Trusts, Settlements and Estates manual at:
TSEM9800 - Property held jointly by married couples or civil partners: contents.
Thank you.

Hi Jan-21,
Thank you for your question.  
1) If these repair works were carried out whilst you were renting the property you could claim the share you paid against your property income. If the work was carried out after you ceased letting the property then you will not be able to claim this as an expense.
 2) The land registration fees when buying the property can be claimed as an allowable deduction for CGT.
Thank you.
 

Hi,
You will need to use software the is compatible with Making Tax Digital to keep digital records and send Income Tax updates instead of sending Self Assessment tax returns.
More information can be found at: Making Tax Digital for Income Tax for individuals: step by step.
Thank you.

Hi,
Thank you for your question.  
Where the loan/mortgate is wholly and exclusively for the purchase of the property then the interest can be claimed as an expense.
You can find information at:  PIM1094 - Cash basis for landlords: receipts and expenses.
Thank you.

 Hi Lodd-Lon-tax Queries,
You cannot use the rent a room scheme when the accommodation is not part of your main residence.
The detailed guidance is here. You can define your main residence by referring this guidance:
PIM4001 - Rent-a-room: overview
The guidance on expenses is here:
Allowable expenses
Guidance on splitting expenses is here:
Expenses incurred wholly and exclusively for the property rental business
It centres around this principal “wholly and exclusively”.
 “Where only part of an expense is for your property rental business you can deduct that part as long as it’s wholly and exclusively for the property business”.  
You will need to figure out a fair way of doing this that will adhere to that principal. 
Thank you.

Hi,
Do you mean that the rental income is paid into your sons’ bank account?  
Do you pay your son a fee for managing those properties?
The bank account the rental income is paid into is irrelevant provided your property rentals are not run as a business.
Your son should declare any money that you pay him for running that business if it is more than £1000.  
Your son should also respond to the let property campaign by letting them know that the property income is your income & declared under your name.
Thank you.

Hi ABY,
The Property Income Manual and HS223 are very specific in that the rent a room scheme cannot apply where the room is let as office accommodation and there are no grey areas in either of those pieces of guidance.
 I have been through the online checker and as you rightly say it does not specifically state that it cannot be claimed for letting out a room as office accommodation.  However at the end of the checker it does provide a link to the rent a room guidance which further links to the HS223 which as I have stated is very specific in that it does not apply to rooms let as office accommodation.
The expectation would be that after you get to the final point in the checker where it says you do not need to tell us we would expect you to go one step further and check the link to the guidance.
If you think the guidance is unclear you could provide feedback on GOV.UK via the (Is this page useful?) link at the bottom of the relevant page.
Thank you.

Hi,
You are taxed on who legally owns the property not where the cash came from that bought it. If the property is 100% in your name then you will pay the tax on it.
Thank you.