Let Property Campaign
The Let Property Campaign allows landlords to report rental income they have not yet made and clarify their tax issues. HMRC collects data regarding rental properties from various sources and analyzes this data to check for taxpayers who appear to have paid the incorrect amount of tax. Voluntary disclosure is recommended to reduce penalties and resolve issues with HMRC. If you are a homeowner and have undisclosed income, you must notify HMRC of any taxes due now and have 90 or 60 days to evaluate and pay the amount. Taxman Chambers can help you.
Scope of the Let Property campaign
The Let Property campaign is an opportunity for all non-disclosure residential property owners. This includes:
people with multiple properties
individual landlords
specialist student or worker landlords
people who rent rooms in your primary residence with rates above the rental threshold Program Room
people who live abroad or intend to live abroad for more than 6 months and rent a property in the UK, as you may still be subject to UK tax Older brother
Disclosure outside of the Let Property campaign
You can still disclose and arrange your tax matters even if you are outside the scope of the Let Property campaign. Your Disclosure will not form part of this opportunity and the terms provided in the Let Property campaign will not be available.
If you fully and voluntarily disclose all outstanding debts under these circumstances, you can often receive a lower penalty than the penalty HMRC would charge if they made a claim or inspection. compliance without disclosure.
⦁ Practical recommendations to improve the accuracy of accounting records
⦁ Advice on accounting systems and software
⦁ Review and highlight opportunities to help you develop your business
⦁ Provide detailed financial information for future reference
⦁ Assist with bank presentations
⦁ Practical recommendations to improve the accuracy of accounting records
⦁ Advice on accounting systems and software
⦁ Review and highlight opportunities to help you develop your business
⦁ Provide detailed financial information for future reference
⦁ Assist with bank presentations
GET IN TOUCH
We prepare taxes, plan for the future, and provide advice on all of your financial needs. We take a comprehensive approach to our clients. We don’t just apply a single solution.
Call or email us any time or, simply fill out the contact form below and a member of our team will be in touch.