Michele Marsland is the owner of Marslands Accountants Ltd and has been for many a year now and one of the things I help landlords do is come clean to HMRC under the Let Property Campaign.
This is an amnesty that was brought about 8 years ago now by HMRC to help landlords who haven’t previously declared their rental property come clean. Many landlords don’t realise they should be doing this and if that is you now don’t worry there is a lot of people when they first find out are quite fearful about it, they are quite stressed they are very worried, they think my goodness I’ve been doing something wrong and I didn’t realise I’ve been doing something wrong and sometimes it can be for 15-20 years so their worst case scenario is in their head.
So if that is you don’t panic alright we have helped a lot of people come clean with the HMRC Let Property Campaign and the reason why we at Marslands specialise in it is because we have been doing it from the start, I was a landlord originally so as a landlord you look at things slightly differently than if you are just a tax advisor.
So we have been doing this right from the start and we have had a lot of experience in it we have been changing people’s lives and that as an accountant is something that you don’t get to say very often.
Sometimes I get people into see me worried that they are going to go to prison or that they are going to get sacked or there’s all sorts of things it’s amazing actually, some people want to move house and they are thinking oh my goodness I can’t move house any more I have had a HMRC letter saying I haven’t declared my property and they are right and I won’t be able to move house I’m just in the middle of moving house.
So this is where at Marslands Accountants we have been making a difference to peoples lives and that really does matter. So that is what we are here to do basically with the Let Property Campaign we have been doing it right since the off and there is a lot of new forms involved in it that isn’t in the normal self-assessment system it is a totally different way of declaring your property to HMRC you go to the self-assessment system later but initially it is a different system.
So that is why a lot of other accountants don’t do it but me and my staff we have been doing this now for quite a long time, over 7 years, and we have helped lots of landlords save thousands of pounds in tax and interest and penalties, so this really is helping people like yourself who have gotten themselves into a little bit of trouble. So that is how I got into the Let Property Campaign and we just love to help people and please don’t worry if you feel like you have been a bit stupid or feel a bit naïve that you didn’t realise that you should have been declaring your rental properties don’t worry about it you are definitely not alone, 1 in 3 landlords haven’t been doing it so you think of the other landlords as you know there is quite a few other people out there.
HMRC estimate there is about 1 million out there that haven’t declared their rental properties and they have sent some letters out but they are only getting about 10% back so there is a long way to go before everybody has come clean that is for sure and so I suspect this amnesty will go on for many a year to come but I could be wrong and if they pull it next week you’d be really heartbroken if you’d missed out on a really good penalty regime, if you could end up paying 10 or 20 percent penalties instead of a minimum of something like £1600 per tax year you think how many tax years that you have got added up that you haven’t declared.
So if you are thinking is now the right time please yes, please do it, it really does make a difference and the reason I am telling you about us as well is because we specialise in the Let Property Campaign we do lots of clients property accounts as well, we do do small businesses as well but the Let Property Campaign has been a specialist of mine and I just love helping people and that is why I say this is a passion of mine to help more landlords and that is why I wish to educate as many people as I can across the UK and potentially the world with my little youtube videos just to explain really how we can help and why we specialise in the Let Property Campaign.
So if you want to know more then please email email@example.com or give us a call on 01752 344582 and ask for either myself Michele or Chris and we will get back to you, it is a free no obligation quote as to what we need to do and what you’re going to do. So please feel free to get in touch.