HMRC has recovered a record £50m from tax-evading residential landlords in the latest buy-to-let property landlords settlement and disclosure campain, which gave landlords an amnesty to get their tax affairs in order, making it one of the most successful voluntary disclosure opportunities
The Let Property Campaign, launched in September 2013, saw HMRC write to over 80,000 landlords, while some 50,000 individuals have used the campaign’s online educational products.
More than 10,000 landlords, who were not up to date with their tax, or straightforward tax evaders, came forward to disclose tax on previously undeclared income under the campaign.
The next phase in HMRC's landlord awareness campaign will be an interactive Twitter seminar on rental property tax pitfalls with a Twitter Q&A evening from 6-9pm on Tuesday 20 October 2015 to provide more information for landlords.
The Twitter Q&A will be run in partnership with a number of landlord professional bodies. These will each have 30 minutes to answer questions relating to wider aspects of renting out residential property such as protecting deposits, end-of-tenancy issues and dealing with letting agents.
HMRC’s section on tax is from 6-7pm and hosted on Twitter via @HMRCcustomers and the event can be followed using the hashtag #UKlandlords.
Caroline Addison, head of campaigns at HMRC, said: ‘The Let Property Campaign bringing in more than £50m is further proof that our campaigns approach works. HMRC’s 20 campaigns have now together generated over £1bn across a variety of sectors.
‘We want to help educate landlords, so the Twitter evening will give people a chance to get their questions answered by a group of expert organisations.’
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