Undeclared Rental Income

The Let Property Campaign, similar to other voluntary tax disclosure opportunities, is designed to encourage landlords with undisclosed rental income to come forward and regularise their tax affairs on favourable terms. With the correct professional advice, lower penalties and affordable payment plans can often be negotiated. 

HMRC Let Property Campaign

Promoted Let Property Campaign Letter

HMRC are actively targeting landlords who they know have undeclared rental income with a 'prompted' Let Property Campaign letter.

Throughout July and August 2018, HMRC sent the huge batch of 'Let Property Campaign' letters to landlords and other buy-to-let investors with undeclared rental income. This wave of letters largely targets accidental landlords with 1 or two rental properties. 

Penalty for Not Declaring Rental Income

The rate of penalties will vary depending on your individual circumstances and whether you made a 'unprompted' or a 'prompted' disclosure. Interest will be charged from the date the tax is due till the date it is actually paid. Incorrect or incomplete disclosures may also attract higher penalties. 

Let Property Campaign Deadline

No specific deadline has yet been announced to make a disclosure under the Let Property Campaign. Similar tax disclosure facilities such as the Liechtenstein Disclosure Facility have come to an abrupt end. HMRC then uses the information they hold to target those who should have made a disclosure but failed to do so. Those with undeclared rental income should make a voluntary disclosure as soon as possible to settle on the most favourable terms. 

Over £135 million recovered so far

Figures released by HMRC in 2017 show the Let Property Campaign has generated more than £135 million in unpaid tax, penalties and interest. 

Why Jeffreys Henry LLP?


For further information, or to arrange a free, confidential consultation, please telephone Ian Leigh or Paul Williams (ex-HMRC) on 0207 309 2222.