HMRC has been running an ongoing programme across a range of sectors, trades and professions to encourage disclosure, and its Let Property campaign now means that the onus is on landlords to bring their tax affairs up to date in exchange for reduced penalties.
The HMRC campaign will focus on landlords who rent out single or multiple properties or who rent out a room in their main home for more than £4,250 per year (£2,125 if the room is let jointly). The campaign will also target landlords who live abroad but rent out UK property, or vice versa, as well as those who rent out their holiday home when not being used by themselves, or who operate in specialist areas such as renting student accommodation or workforce accommodation.
