Let Property Campaign
HMRC Let Property Campaign
The Let Property Campaign has been established to allow individual landlords who rent out residential properties to bring their current and past tax affairs up to date.
It may be the case that you are unsure of your liabilities in relation to tax on rental income. If you haven’t declared your rental income to HMRC you should seek tax investigation advice from an experienced professional to help establish your circumstances.
Click here
to arrange a free initial phone consultation to discuss your affairs in complete confidence.
Declare Rental Income - Call Today 0113 387 5670
If you do owe tax on rental income you will have to disclose this to HMRC. Once you do, you will have 3 months to calculate and pay any outstanding tax arrears or face the possibility of a tax investigation.
If you require advice and assistance in relation to the Let Property Campaign you can call us on 0113 387 5670. We have considerable experience in this area and in liaising with HMRC on behalf of property owners.
HMRC Disclosure - Contact Us Here
Property owners looking to voluntarily take advantage of the Let Property Campaign can expect to receive penalties of between 10% and 30% of the unpaid tax on rental income as compared to penalties of up to 200% if HMRC opens a full tax investigation.
The level of penalty when a voluntary disclosure is made will be determined by the nature of the error and the reasoning. We can assist you in this process and liaise with HMRC on your behalf.
Who is the HMRC Let Property Campaign available to?
The campaign is available to individual residential property landlords who:
- Rent a single property;
- Rent multiple properties in a portfolio;
- Have lodgers in your main home paying more than £7500 a year or £3500 a year if the property is jointly let;
- Live abroad and rent out a property in the UK;
- Live in the UK and rent out a property abroad;
- Rent out a holiday home if this is used by the landlord themselves.
We also assist individuals who rent their properties through online platforms such as AirBnb.
The scheme is not available to commercial property landlords or companies or trusts that rent out residential property.
In addition to assisting you in making a disclosure of unpaid tax on rental income, we also provide tax compliance services
to ensure that your tax affairs stay up to date with HMRC
To discuss your circumstances in relation to the HMRC Let Property Campaign with trusted and experienced tax investigation professionals in complete confidence please call us on 0113 387 5670 or fill out an Enquiry Form.
If you do not pay your tax there are a number of actions HMRC may take in order to recover unpaid tax debt. Depending on the circumstances this could take the form of either a tax investigation or HMRC debt enforcement action.
“I’m late filling in my tax return” is a statement that we see time and time again in the enquiries that we see coming through from tax payers who have issues and are contacting us for assistance.
Let Property Campaign - Rental Tax Disclosure Case Study.We assist individuals in making disclosures of unpaid tax to HMRC and in investigations by HMRC. Call us on 0113 387 5670
Contact us today to find out how we can assist you...
To hear more about our Tax Investigation Services or to discuss a potential case with a member of our team, call us on 0113 387 5670.
Alternatively, you can email us at enquiries@forthsonline.co.uk
or fill out an Enquiry Form
and we will contact you directly.