TSEM9922 - Ownership and income tax: Specific types of property: land and buildings: example 2: sole name - valid declaration of trust
A house is held in the sole name of A, and the Land Registry documents confirm this. The house is rented out, but the rents are received by B, A바카라 사이트™s adult daughter.
A submits a written declaration of trust dated 01/06/2020 and signed. In it A states 바카라 사이트˜I hold the house at 23 Ranley Gardens on trust for my daughter B absolutely바카라 사이트™. The declaration (TSEM9520) is valid.
The declaration transfers the beneficial ownership from A to B on 01/06/2020 and she is entitled to the rents, and taxable on them, from that date. However, if the daughter was a minor the Settlements legislation may apply so that A would remain taxable on the rents until the daughter reached 18 (see TSEM4300).