Landlords: Have You Declared All Your Rental Income? | HMRC Let Property Campaign

Have you received rental income that was never declared to HMRC? HMRC’s Let Property Campaign gives individual landlords an opportunity to bring previously undeclared residential rental income up to date. In this video, we explain: • how HMRC may obtain information about landlords • the difference between prompted and unprompted disclosures • how behaviour can affect penalties • why interest and penalties may still be payable • how far back HMRC may look • common mistakes involving mortgage interest and expenses • why “no tax to pay” does not always mean “nothing to declare” • what a long-running disclosure can involve in practice • how the new “Register your rental property” service may make the rental market increasingly transparent We also look at anonymised real-world examples involving historic rental income, additional tax, interest and penalties. The Let Property Campaign is not a tax amnesty. If rental income has not been declared, the important question is whether the position is dealt with voluntarily before HMRC comes to you. Miller Associates Accountants & Tax Consultants This video provides general information only and is not personal tax advice. Tax treatment depends on individual circumstances and legislation may change. Professional advice should be obtained where appropriate.