Posted by Nick Turpin on 27 Sep 2013
Residential Landlord Campaign
HM Revenue & Customs (HMRC) have announced a new campaign to allow landlords who owe tax, either through accidental error or deliberate evasion, to bring their tax affairs up to date and pay what they owe (including interest and penalties).
The campaign is aimed broadly at all residential property landlords, irrespective of the size, nature or location of their property portfolios.
The campaign is scheduled to last 18 months and individuals can come forward voluntarily at any point during the campaign. HMRC will use the information they hold about property rental in the UK and abroad, along with information already held on their digital intelligence system Connect, to identify people who have not paid what they owe. Those who fail to come forward are likely to face higher penalties or even criminal prosecution.
We have extensive experience in our team of managing HMRC disclosures, involving both the UK and foreign sited income and gains. If engaged we will ensure you pay no more than you need to in terms of tax and penalties.
If you would like any advice regarding the above article or would simply like to discuss other ways in which we could help you or your business, please contact us on 01962 856 990 or firstname.lastname@example.org.
- Property Partnership Incorporation and SDLT
- Top 10 Expat Tax Tips for Individuals Moving to the UK
- Tax Relief For Residential Mortgages
- Overseas Pension Changes 6 April 2017
- Non-Resident Landlords – UK Tax Update