More Landlords coming forward to HMRC in 2021!

At Marslands we specialise in the Let Property Campaign. We are a local accountancy practice in Devon, and I have noticed that in the last month that we have had more enquiries to do with the Let Property Campaign, than we have had in the previous year!

I know that part of this will be because of the videos that I have created on the Let Property Campaign is obviously getting that reach across the country and the World as sometimes UK residents leave the UK but continue to let out their UK properties.

This is not the only reason though as many of these landlords have been prompted by HMRC, so it looks like they are increasing their pursuit of the missing landlords. They are searching for owners of multiple properties and use their system to find landlords by looking all different types of data, even such as electrician certificates!

If they do find you, they will send a letter giving you 30 days in which to reply! Many landlords are trying to come clean but in lockdown have tried to do this by registering for self-assessment from now to declare this. You cannot do this as you need to declare all the missing years! This is where the let property campaign comes in! Even if you make losses and wish to carry these forward you still must declare this to HMRC!

We found the biggest problem for landlords wanting to declare is that they do not know where to start. That is why coming to Marslands is a great place to start as we take the stress away of finding out what to do and how to calculate it! You can google the Let Property Campaign and find all the information needed on the government website, but it is not easy to understand if you have never done it before. As there are many forms to fill in and different decisions in which you need to make which are all very difficult!

If you are thinking “where do I start”, I would recommend watching some of my videos if you want to try and give it a go yourself. Or you can give us a call on 01752 344582 or email admin@marslands.co.uk for more information on how we can help you! We can let you know what information we need and give you a quote.

Don’t worry if you are in this situation! You are not alone! There are estimated to be just over 1 million missing landlords still out there!

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