Landlords – HMRC let property campaign
Landlords who have failed to declare their rental earnings are being warned to pay up or face harsher penalties. HMRC’s let property campaign is targeting widespread tax evasion on property lettings, and estimates that 1m buy-to-let and other private landlords are not declaring their rental income, depriving the public treasury funds of £550m a year. Such initiatives have been a cost-effective way for HMRC to recover tax in a range of sectors, with voluntary disclosures in past campaigns yielding more than £500m since 2007.
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