Do you rent out a property? Have you declared the rental income on your tax return?
If the answer to the first question is yes but the second question no then you should take advantage of the HMRC Let Property Campaign. This is aimed at individuals letting out residential property and is a campaign that currently has no deadlines except that the taxpayer must make the disclosure and pay the tax within three months of notifying HMRC.
HMRC is known to be using third party data from letting agents and local authorities to track down those who do not come forward voluntarily. Letting agents are being contacted to provide addresses of the let properties for which they have collected rents on behalf of landlords during 2012/13. The name and address of landlords are also being requested. As these requests have legal backing letting agents will be unable to use the Data Protection Act as grounds for not disclosing this information.
If you have let out a residential property in the UK or overseas and not declared the rental income, regardless of whether you made a profit or loss on the rental, and you would like assistance in declaring this income then please do not hesitate to contact J Clarke & Co on 01270 260095 or via email email@example.com