HMRC targeting landlords
Posted on 22nd November 2022 at 07:56
We’re getting reports through of landlords that are being “nudged” to check that they’ve declared all their rental income.
HMRC have the power to collect data from the rental deposit scheme. As the scheme requires a distinct amount of deposit to be secured based on number of weeks rent, HMRC’s Connect system can identify...
Landlords who’ve deposited funds but not filed a tax return for rental income
Landlords who’s declared rental income doesn’t match the size of deposit made
So far, we’ve heard of 606 such nudge letters being issued. Now is the time to make sure that you’ve fully declared your rental income, and using the “Landlord Scheme” if you bring your affairs up to date before you’ve inquired into, the penalties etc are all reduced.
If you or anyone you know do not have your tax affairs up to date, let us help you now before HMRC come knocking. Contact us today.
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