I reported back in March about HMRC’s let property campaign, and how they would be contacting people who they believed had not declared their rental income.
Following on from this, HMRC have recently advised that they have now written to 40,000 people where they believe this to be the case.
Of the 40,000 people contacted, so far 2,500 have contacted HMRC to put their affairs in order.
In order to secure the best possible terms, and minimise any tax penalties, it is important to bring the tax affairs up to date as soon as possible.
If you know of someone who has received a letter from HMRC, or has rental income that needs to be declared, please do put them in touch.