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Buy-to-let landlords - have you paid your tax on income to HMRC?
Buy-to-let landlords admitting to not paying tax on their income from rent rose by 145% in the current year up from 6,600 in 2017/18 to 16,110.
This means that the tax collected from buy-to-let landlords who admitted to unpaid tax rose from £21m to £42m!
HMRC's campaign to alert landlords to pay their tax is called the "Let Property Campaign" this initiative reminds landlords that failure to declare rents received can result in fines up to 200% of the undeclared revenue. HMRC sees the buy-to-let market as the source of hundreds of millions of pounds in unpaid tax.
Are you a buy-to-let landlord worried about unpaid taxes?
Contact Winchester Bourne, we have the expertise to help you before this becomes a very expensive exercise in fines and penalties.
Call 01962 715671 or email [email protected]
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