HMRC’s Let Property Campaign – information for Landlords

Posted on 2014-06-01, by Montpelier

The Let Property Campaign has been launched to target those in the residential property letting markets that are not paying the correct amount of tax.

The Scheme is designed to encourage landlords to put right any errors or omissions in their tax affairs.

HMRC have provided examples of errors which have lead to landlords understating or not reporting their profits from property and these include the following:-

Voluntarily reporting an error of omission will result in a greater degree of leniency by HMRC than with those who are found out by HMRC.

As always, individuals should contact us if they believe that they could have not reported the correct rental profits to HMRC.

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