The Let Property Campaign provides an opportunity for buy-to-let landlords who owe tax due to letting out residential property to disclose 
their property income.
Landlords with undisclosed income are being encouraged to tell HMRC about any unpaid tax through this campaign.
The Let Property Campaign is an opportunity open to all residential property landlords with undisclosed taxes whether the property is in the UK or abroad. This includes:
- those that have multiple properties
- landlords with single rentals
- specialist landlords with student or workforce rentals
- holiday lettings
- renting out a room in your main home for more than the Rent a Room Scheme threshold
- those who live abroad or intend to live abroad for more than 6 months and rent out a property in the UK as you may still be liable to UK taxes
This campaign isn’t open to those landlords who are letting out non-residential properties such as a shop, garage or lock up. It also can’t be used by those wishing to disclose income on behalf of a company or a trust.
Unlike previous campaigns, there is no disclosure ‘window’ requiring you to disclose what you owe by a specific date. This campaign will be ongoing for some time; however, landlords intending to come forward who delay risk higher penalties if they are subject to an enquiry and they haven’t already notified an intention to disclose.
Regardless of whether the errors were due to misunderstanding the rules or deliberately avoiding paying the right amount HMRC is keen to encourage landlords to come forward voluntarily rather than wait until HMRC uncovers any errors.
When you making a disclosure you can tell HMRC how much penalty you believe you should pay. What you pay will depend on why you have failed to disclose your income. If you have deliberately kept information from HMRC you will pay a higher penalty than if you have simply made a mistake.
More information can be found on the .Gov website though we’d encourage you to talk to one of our experts before you make contact with HMRC to discuss any income from residential property as we may be able to assist you in getting your tax affairs in order. We can also help negotiate a time to pay arrangement on any tax due and will do all we can to help you avoid any penalties.
