Part 14Income tax liability: miscellaneous rules
Chapter 3Jointly held property
837Jointly held property: declarations of unequal beneficial interests
1
The individuals may make a joint declaration under this section if—
a
one of them is beneficially entitled to the income to the exclusion of the other, or
b
they are beneficially entitled to the income in unequal shares,
and their beneficial interests in the income correspond to their beneficial interests in the property from which it arises.
2
The declaration must state the beneficial interests of the individuals in—
a
the income to which the declaration relates, and
b
the property from which that income arises.
3
The declaration has effect only if notice of it is given to an officer of Revenue and Customs—
a
in such form and manner as the Commissioners for Her Majesty's Revenue and Customs may prescribe, and
b
within the period of 60 days beginning with the date of the declaration.
4
The declaration has effect in relation to income arising on or after the date of the declaration.
5
The declaration continues to have effect until such time (if any) as there is a change in the beneficial interests of the individuals in either—
a
the income to which the declaration relates, or
b
the property from which that income arises.