Introductory Meeting & Quote →
  • Home
  • About JH
    • About Us
    • 🏆 Trophy Cabinet
    • History
    • Talent & Careers
  • People
  • Services and Expertise
    • Key Services:
      • Audit and Assurance
      • Personal Tax
      • Corporate Tax
        • R&D Tax Relief/Credit
        • RDEC
        • Seed Enterprise Investment Scheme (SEIS)
        • Enterprise Investment Scheme (EIS)
        • Enterprise Management Incentive (EMI)
      • International Tax
      • Tax Investigations and Disclosures
        • Worldwide Disclosure Facility (WDF)
        • Undeclared Rental Income and the Let Property Campaign
      • VAT Advice and Compliance
      • Xero Training
      • Outsourced and Cloud Accounting
      • Payroll Services London
      • Tips, Services Charge, Tronc and Troncmaster Services
      • Independent Financial Advice
      • View All Services
    • Key Sectors:
      • Listed Companies – LSE & AIM
      • Restaurants and Hospitality
      • Technology
      • Specialist Food and Drink Accountants
      • Creative and Media
      • Artists and Art Galleries
      • Property & Real Estate
      • Medical and Healthcare
      • Retail
    • Key Goals:
      • Bounce Back Stronger post-COVID
      • Accelerate Business Growth
      • Outgrown Your Existing Accountant
      • Looking For A New Accountant
      • Starting a New Business
      • Listing a Business
      • Setting Up a Business in the UK
      • Expanding Overseas
    • View All
  • 🌍 International
    • Setting Up in the UK
    • Expanding Overseas
    • Morison Global
  • #Trending
  • Contact Us
    • Introductory Meeting
    • Contact Us
    • Our London Office

  • Home
  • About JH
  • People
  • Key Services
  • International
  • #Trending
  • Contact Us
  • Introductory Meeting / Quote
  • Directions To Our Office [Google Maps]

  • Home
  • About JH
  • People
  • Key Services
  • International
  • #Trending
  • Contact Us
  • Introductory Meeting / Quote
  • Directions To Our Office [Google Maps]
HOME / KNOWLEDGE / HMRC’s Let Property Campaign recoups £42 million in unpaid tax

HMRC’s Let Property Campaign recoups £42 million in unpaid tax

Prompted Let Property Campaign Letter

An analysis of HMRC data has revealed over £42 million has been recovered from landlords with undeclared rental income in 2018-19, double the £21 million recorded in 2017-18.

Over 16,000 landlords took advantage of the disclosure facility after receiving a ‘Prompted Letter’ from HMRC encouraging them to come forward under the Let Property Campaign.

The ‘prompted letter’ provides landlords with undeclared rental income a 30-day window to make contact, and then a further 3 months to regularise their tax affairs.

Those who DO NOT take this opportunity risk being investigated under Code of Practice 8/9, facing much higher penalties (potentially up to 200% of any tax due) and the possibility of a criminal prosecution.

HOW HMRC IDENTIFY LANDLORDS?

HMRC rely on a wealth of available information to identify landlords who have not declared rental income.

HMRC’s state-of-the-art analytical computer system ‘Connect‘ draws on information from a range of government and corporate sources, including HM Land Registry and the Tenancy Deposit Scheme, to create a profile of each taxpayer’s total income.

According to the data released by HMRC, the highest concentration with landlords with undeclared rental is Birmingham, with Leicester ranking second. South East London ranks as London’s top spot.

Prompted Let Property Campaign Letter

Letting agents have also been sent statutory notices demanding details of rents collected on behalf of private landlords. An initial fine of £300 applies to those agents failing to meet the initial deadline, with a potential further fine of £60 per day for ongoing failure.

 

INTRODUCTORY MEETING

CONTACT US TO ARRANGE AN INTRODUCTORY MEETING, OR FOR A QUOTE.

HMRC’s Let Property Campaign recoups £42 million in unpaid tax

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.
Worldwide Disclosure Facility - Andrew Lewis

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-harpar-jeffreys-henry

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.

RELATED PROPERTY NEWS

HMRC Suspends payment of some R&D Tax Credits

HMRC have temporarily suspended some Research and Development Claims as a means of putting an end to the abuse of R&D. Who Will be Affected? HMRC […]

Read more

Changes to Trust Registration Service Requirements

With limited exceptions, all existing UK trusts will be required to register with the Trust Registration Service (TRS) by 1 September 2022, irrespective of whether they […]

Read more

Finance and Accounting Tools for Creative and Media Businesses

Used correctly, finance and accounting tools for businesses in the creative and media sector can help cut down on unnecessary administration and provide real-time financial data. […]

Read more
Property accountants

VAT On Mixed-Use Properties

Many businesses and individuals own UK properties that contain a mix of residential and commercial property. A common example in large towns and cities is a […]

Read more

Finance and Accounting Tools for SMEs

Used correctly, finance and accounting tools for Small and Medium Enterprises (SMEs) can help cut down on unnecessary administration and provide real-time financial data. This can […]

Read more

Property Rental: VAT on Short Lets and Holiday Lets

Airbnb is ever more popular and a great way to improve returns on property rentals. However, a simple rental business can nevertheless generate VAT headaches. Standard […]

Read more

What is Non-Dom and How Does it Work?

The term 'non-dom' has been under the spotlight in recent news.  ‘Non-dom’ or ‘non-domiciled’ generally refers to residents of the UK whose permanent home is outside […]

Read more
Jeffreys Henry Top 9 Auditors AIM

Jeffreys Henry replaces EY as Top 9 Auditors on AIM

We are delighted to announce that Jeffrey Henry has replaced EY as Top 9 Auditors in the latest league table of auditors ranked by the number of AIM clients.

Read more

What is Tax Investigation Service and Why Do I Need it?

Jeffreys Henry’s tax investigation service is an annual policy that covers our professional fees in the event of an HMRC compliance check, inquiry, investigation, or dispute.

Read more
Restaurant Directors' Club

Restaurant Directors’ Club – May 2022

The Restaurant Director’s Club, hosted by accountancy firm Jeffreys Henry, is an exclusive, invite-only networking event that brings together a cross-section of leading restaurant and hospitality directors and industry experts.

Read more

VIEW MORE

Bhimal Hira
Bhimal Hira

We’re one of the UK’s leading tech-enabled providers of accountancy, audit, tax and advisory services to fast-growth SMEs, international businesses, listed companies and private individuals.

  • JeffreysHenry.Cloud
  • Transparency Report
  • Terms and Conditions
  • Privacy Statement
  • GDPR Statement
ICAEW London Chartered Accountants
Website built with ❤ by the Jeffreys Henry Marketing Team.

We use cookies to help us to improve your browsing experience and understand how people use our website. By continuing to browse our website you are agreeing to our use of cookies.

Jeffreys Henry LLP is a Limited Liability Partnership registered in England and Wales with registered number OC306971. Registered to carry on audit work in the UK and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales. Details about our audit registration can be viewed at www.auditregister.org.uk under reference number C001108797. VAT Registration Number 243307782. A list of Partners is available for inspection at the below address. Jeffreys Henry Audit Limited is registered in England and Wales with Company number 13172931. Registered to carry on audit work in the UK and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales. Details about our audit registration can be viewed at www.auditregister.org.uk under reference number C008924259. VAT number 374306694. A list of Directors (who we also refer to as Partners) is available for inspection at the below address. Jeffreys Henry Business Services Limited is registered in England and Wales with Company number 13128469. VAT number 369869417. A list of Directors (who we also refer to as Partners) is available for inspection at the below address. Each entity’s registered office is at Finsgate, 5-7 Cranwood Street, London, EC1V 9EE.
            No results See all results