HMRC’s Let Property Campaign now covers up to the year ended 5th April 2021. With the year end passing you can now declare all of your previous rental income through the amnesty up to the 2021 tax year.
The campaign allows landlords to declare up to 20 years of undeclared property income. Penalties will often be lower if you voluntarily disclose before HMRC catch you!
Voluntarily disclosing to HMRC also reduces your chance of an enquiry which usually involves providing lots of evidence of income and expenses to HMRC and also increased penalties.
Agents are also required to submit details of landlords using their services to HMRC. This can leave landlords who use agents vulnerable to the possibility of an enquiry or HMRC catching them first.
Marslands specialise in the Let Property Campaign and have helped many clients disclose up to 20 years of property income to HMRC. On average we save our clients £6,000 in tax through the campaign.
HMRC are catching more landlords every day and we want to help landlords before HMRC catch them!
If you need an accountant to do your disclosure, contact Marslands on 01752 344582 or email email@example.com.
Visit our dedicated page for more details.