Pocketing untaxed Rent?

The HMRC is running a Let Property Campaign that gives individual landlords an opportunity to bring their tax affairs up to date.

If you owe tax on letting income, you need to make a voluntary disclosure before you get caught. If you don’t make a voluntary disclosure now and HMRC finds out later, you could get higher penalties and face criminal prosecution.

The Let Property Campaign only applies to individuals who are:

• renting out a single property
• renting out multiple properties
• renting out a room or more in their own home for more than £4250 a year
• living abroad and renting out a property in the UK
• living in the UK and renting out a property abroad

Get hold of the HMRC or contact us for assistance if the above applies to you. Remember, tax evasion is a crime.