HMRC say that they have recovered £50m in their latest campaign aimed at residential landlords.
HMRC have recovered approx. £50m in their latest campaign aimed at residential landlords. This was launched in 2013.
The Let Property Campaign gives individuals letting out residential property, in the UK or abroad, to bring their tax affairs up to date and to get the best possible terms to pay the tax that they owe.
This is done by making a voluntary disclosure, achieved by filling in a form or by calling HMRC’s dedicated helpline, giving details of the income not previously declared. Three months are then given to calculate & pay the tax owed.
As shown by the level of revenue raised, this campaign has been a great success for HMRC and so is sure to be repeated in other areas.
The campaign is still available, for further details see https://www.gov.uk/let-property-campaign
If you have any questions please do not hesitate to contact Lesley Sutton on 01484 550 037 or email email@example.com