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HMRC internal manual

Trusts, Settlements and Estates Manual

Ownership and income tax: Specific types of property: shares: example 7: joint names - 50/50 rule applies

A and B, civil partners living together, hold shares in non-close company X in their joint names. A provided 30% of the purchase price, and B 70%.

They do not make a form 17 declaration (TSEM9842). The 50/50 rule (TSEM9814) applies to tax them equally on the dividends.

If they had made a valid declaration on form 17 in respect of the shares in company X and provided evidence, they would be taxable 30/70 on the dividends.