An IT consultant contacted us with 4 years undeclared rental income. As he was making a loss on the property he hadn’t told HMRC because he didn’t think he had to
He had a bit of a shock when he received a letter from HMRC’s let property campaign. This gave him 30 days to contact HMRC to confirm he did have this extra income.
As he was a busy man he contacted Marslands as he saw from our website we help many landlords declare their rental income and saw we offered a hassle free service with our Property Plus package
He was relieved to drop all the invoices and mortgage information with us along with the rents from the past 4 years. We then put it altogether for his disclosure!
It turns out he wasn’t even making a loss as he was allowing all mortgage repayments not just the interest- this is a common error landlords make. We did manage to claim other expenses he knew nothing about and his tax bill was only small at under £1,000.
He was thrilled with the hassle-free service as it didn’t take up much of his own time which allowed him to concentrate on his own work.