HMRC have released ‘The Let Property Campaign’ which allows landlords the opportunity to bring tax affairs up to date and get the best possible terms to pay tax owed.
HMRC might look at things such as the land registry, landlords using the tenancy deposit regime and even issue notices under Paragraph 1, Schedule 23 to the Finance Act 2011 to letting agents to obtain details of residential landlords and transactions. Data obtained will then be cross checked against self-assessment records.
HMRC will identify and write to landlords who they consider might not have declared rental income. If you would like free confidential advice on your next steps as a landlord, get in touch http://bit.ly/2ui8458