Declaration of trust
In the interests of reducing my tax bill, it was recommend to me to draw up a Declaration of Trust to put a share of the rental income of my BTL property in my wife's name, paying basic rate income tax, where the declaration states that although I legally own 100% of the property, my wife would be entitled to a percentage of the rental income.
Because the mortgage is in my sole name, it was suggested I don't need to tell the mortgage company or register with Land Registry.
This is at odds with other declarations of trust I've read about which suggests they do need to go to the Land Registry.
I'm not asking for "legal advice" which I know nobody would want to give(!), but was wondering where I could find out more about this type of D.o.T. Which seems to differ from other ones I read about which seemed to concern the actual purchase of a property.
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