HMRC still targeting landlords dodging their tax

Landlords who rent out their residential property and fail to tell HM Revenue and Customs (HMRC) about the rental income are being offered the chance to declare their tax affairs. HMRC estimates that up to 1.5 million landlords may be underpaying up to £500 million in UK tax every year. Under HMRC's latest Let Property Campaign, landlords who may owe tax can come forward and tell HMRC about any unpaid tax on rents. They will have to pay the tax they owe, including any penalties and interest due. September 27, 2013