Let Property Campaign recovers £50 million from BTL landlords

The Let Property Campaign has recovered a record amount of unpaid tax as a result of a crackdown on residential landlords with undisclosed rental income.

Figures released this month by HM Revenue and Customs [HMRC] show just over £50 million has been recovered. Earlier this year, that figure stood at just £20 million. It is understood more than 10,000 landlords have come forward.
Let Property Campaign

The Let Property Campaign, similar to other voluntary tax disclosure opportunities, is designed to encourage individuals to come forward and regularise their tax affairs on favourable terms. Those who do not come forward, face heavier penalties and possibly prosecution if HMRC catches up with them later.

In 2014, around 40,000 landlords who failed to come forward voluntarily were sent a promoted disclosure letter, providing a 30 day window to make contact and regularise their tax affairs with increased penalties and interest.
Sources of Information

HMRC now gather information from a much wider sources beyond Local Authorities, the Land Registry, the Electoral Roll and the Tenancy Deposit Scheme. In late 2015, hundreds of estate agents were sent statutory notices to provide details of rents collected on behalf of all landlords.

Caroline Addison, head of campaigns at HMRC, said: “The Let Property Campaign bringing in more than £50m is further proof that our campaigns approach works. HMRC’s 20 campaigns have now together generated over £1 billion across a variety of sectors.”
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Let Property Campaign recovers £50 million from BTL landlords

DEBBIE DOLEGA

Partner - Personal Tax

Debbie is a Chartered Tax Adviser with over two decades of experience advising Private Clients with complex international tax affairs, including non-UK residents, non-domiciled individuals, trusts and personal investment companies.

ANDREW LEWIS

Senior Tax Manager

Andrew manages the firms personal tax department, including a portfolio of personal tax clients such as High Net Worth Individuals, Self Employed, Directors, Landlords, Non-Residents and Partnerships. Andrew also has significant experience in dealing with HMRC tax investigations and disputes including Section 9A enquires, the Worldwide Disclosure Facility (WDF), Code of Practice 9 and the Contractual Disclosure Facility.

DIANE HARPER

Tax Manager (ex-HMRC)

Diane has 38 years of experience in tax starting with 6 years at H M Revenue & Customs. She now manages a portfolio of 350 personal tax clients including high net worth individuals, Barristers, Self Employed, Directors, Non-Residents and Partnerships.