The need for a form 17 when circumstances change
Q: Civil partners A and B have been jointly running a rental property business from a property owned 100% by A . B is to take a long leave of absence, and so it is agreed that she will be entitled to 100% of the rents. Is a form 17 necessary to split the income 100/0 instead of 50/50?
A: Although a deed of gift, or declaration of trust is required, as per ITA07 s837 , a Form 17 is needed only where property is jointly owned, as per Part 14 ch 3 of ITA07.