HMRC step up their chase for landlords who have not declared rental income
29 November 2022
Landlords with undisclosed, or under-disclosed, rental income are in HMRC spotlight again, with the threat of demands for back payment of taxes, along with associated interest and penalties.
Penalties can reach a staggering 100% of the unpaid tax, in circumstances where the income has not been declared voluntarily.
HMRC use a whole host of resources from which to trigger an investigation, such as HM Land Registry and Stamp Duty Land Tax returns, reviewing reports from letting agents and tenancy deposit scheme providers, and collecting information from other government departments.
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