Guidance Needed on Form 17 for Splitting Rental Income

Landlord Discussion Property Investment
1

Hi everyone,

I am seeking guidance on using Form 17 to split rental income, where 90% would go to my wife and 10% to me. Here’s the process I’ve understood so far:

  1. Convert joint tenancy to tenancy in common.
  2. Create a declaration of trust.
  3. Fill out Form 17 and submit it to HMRC within 60 days of creating the trust.

I have a few questions about the process:

q. To whom should I send the severance of joint tenancy? Is it the Land Registry?
2. Will the Land Registry provide an acknowledgment once they process the severance?
3. Should the trust deed explicitly state the same proportion of the split, i.e., 90% for my wife and 10% for me?
4. Should the trust deed be sent to the Land Registry or HMRC?
5. Is the Doc4Biz template suitable for creating a trust deed?
6. Has anyone used Rocket Lawyer templates for creating a joint tenancy and trust deed?
7. Is it possible to revert from a tenancy in common back to a joint tenancy at a later stage?

Thanks in advance for your help and advice!