Do you own a property and let it out? Unless this is for long-term holiday lets, student lets and workforce lets, you may attract the attention of HMRC.

HMRC has a new campaign targetting property owners who have not declared the correct tax relating to undeclared rental income. This will go on for an unusually long 18 months and owners can come forward at any time to disclose their property rental income.

This could have a significant impact on many South West property owners and we’re anxious to help. HMRC estimated that 1.5 million landlords across the UK underpay tax totalling £500m every year, so this campaign is seen as a chance to regain some of this tax.

It would be wrong to think property owners could hide and avoid this. Information is available to HMRC from a wide variety of sources including computerised records from government agencies and local authorities. There are also the tip-offs from the public and disgruntled tenants.

Property owners who come forward can expect lower penalties than those who refuse to do so – in which case criminal prosecutions could occur.
So please don’t try to avoid this tax. If you’re worried you can have complete confidence in Vincent & Co for discrete and confidential help.