Accounting

Pocketing untaxed Rent?

The HMRC is running a Let Property Campaign that gives individual landlords an opportunity to bring their tax affairs up to date.

If you owe tax on letting income, you need to make a voluntary disclosure before you get caught. If you don’t make a voluntary disclosure now and HMRC finds out later, you could get higher penalties and face criminal prosecution.

The Let Property Campaign only applies to individuals who are:

  • renting out a single property
  • renting out multiple properties
  • renting out a room or more in their own home for more than £4250 a year
  • living abroad and renting out a property in the UK
  • living in the UK and renting out a property abroad

Get hold of the HMRC or contact us for assistance if the above applies to you. Remember, tax evasion is a crime.

About Phoenix

Accountant | Tax Specialist | Quickbooks ProAdvisor Online

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Phoenix Debola is licensed and regulated by AAT to provide services in accordance with licence number 1000701 details of which are displayed at the address shown. AAT is recognised by HM Treasury to supervise compliance with the Money Laundering Regulations and Phoenix Debola Cloud Accountancy Practice is supervised by AAT in this respect.

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