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Wimborne Office: 01202 849169

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Let property campaign

Source: HM Revenue & Customs | | 12/04/2017

HMRC’s Let Property Campaign provides landlords who have undeclared income from residential property lettings in the UK or abroad with an opportunity to regularise their affairs by disclosing any outstanding liabilities, whether due to misunderstanding the tax rules or because of deliberate tax evasion. HMRC’s guidance on making a disclosure has been updated for the 2017-18 tax year.

There are three main stages to taking part in the campaign: notifying HMRC that you wish to take part, preparing an actual disclosure and making a formal offer together with payment. The campaign is open to all individual landlords renting out residential property. This includes landlords with multiple properties and single rentals as well as specialist landlords with student or workforce rentals. A notification to partake in the campaign can be made by completing and submitting the form online or by completing a form and then either emailing or posting it to HMRC.
Landlords that make an accurate voluntary disclosure are likely to face a maximum penalty of 0%, 10% or 20% depending on the circumstances. There are higher penalties for offshore liabilities.

There is currently no end date for the campaign. However, landlords who do not avail of the opportunity and are targeted by HMRC can face penalties of up to 100% of the tax due together with possible criminal prosecution. It is not possible to benefit from the terms of the disclosure once investigation by HMRC has commenced.



Contact Us

Poole Office

Tower House, Parkstone Road
Poole, Dorset
BH15 2JH
Tel: 01202 678555

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Company Registration No: O7430971
VAT Registration No.107585703

Wimborne Office

Beaufort House, 2 Cornmarket Court
Wimborne
BH21 1JL
Tel: 01202 849169

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