HMRC has amended the guidance for buy-to-let landlords when submitting a disclosure by providing instructions allowing agents to submit a disclosure on their behalf
The guide to making a disclosure has been updated and now includes temporary instructions added for agents to submit disclosures on behalf of their clients, these clients being buy-to-let landlords.
In order for an agent to make a disclosure on behalf of someone else they first have to notify HMRC of their intention to do so as soon as they are aware that their client owes tax on their letting income.
However, a disclosure cannot be made by an agent on behalf of a company or trust.
Details for more than one person cannot be included in this disclosure - agents must complete separate disclosures for each person.
HMRC can be notified by filling out a notification form (this has temporarily been removed for updating) or by phoning the Let Property Campaign helpline. HMRC will then provide the agent with a unique Disclosure Reference Number (DRN) and a Payment Reference Number (PRN) which is quoted when paying.
A disclosure must then be made within 90 days of receiving the DRN.
Agents will have to send HMRC the client’s disclosure and payment by the date stated on the notification acknowledgement. If the client is unable to pay by the deadline given then payment arrangements must be made with HMRC.
Let property campaign: your guide to making a disclosure is here.
