Received a Letter Titled 'Your Overseas Assets, Income, or Gains'? Here's What You Need to Know
We explain what this letter means, why you might have received it, and the steps you should take to address it
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HMRC Let Property Campaign
If you've received a nudge letter from HMRC, or even if you haven't but want to rectify past inaccuracies in your property income reporting, we advise taking advantage of the Let Property Campaign to resolve these matters. Here's what you need to know about the LPC and how Tax Dispute Experts can support you.
Expert Guidance
Our experienced team will guide you through the entire Let Property Campaign process, ensuring you understand every step and comply with all requirements.
Accurate Disclosure
We'll assist you in accurately reporting your property income and correcting any past irregularities, helping you avoid unnecessary penalties and interest.
Negotiation with HMRC
Our specialists will negotiate with HMRC on your behalf to achieve the best possible outcome, minimising your exposure and resolving the investigation as quickly and cost-effectively as possible.
What is the Let Property Campaign?
The Let Property Campaign is an initiative by HM Revenue and Customs (HMRC) designed to encourage landlords who have undeclared rental income to come forward and voluntarily disclose their tax liabilities. It allows landlords to regularise their tax affairs in a straightforward manner, potentially reducing penalties and avoiding legal action.
Who Can Benefit from the Let Property Campaign?
Landlords who may benefit from the Let Property Campaign include:
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Those renting out residential properties in the UK or abroad.
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Landlords who have not declared rental income to HMRC.
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Landlords who are behind on their tax payments or need to correct previous tax returns.
Why Participate in the Let Property Campaign?
Participating in the Let Property Campaign offers several benefits:
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Reduced Penalties: By voluntarily disclosing undeclared income, landlords may qualify for reduced penalties compared to those imposed after HMRC discovers the income.
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Avoiding Legal Action: Disclosure through the campaign can help landlords avoid criminal prosecution for tax evasion.
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Peace of Mind: Regularising tax affairs provides peace of mind and ensures compliance with tax laws going forward.
How Can We Help?
Our team specialises in assisting landlords through the Let Property Campaign:
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Expert Guidance: We provide expert advice and guidance on the campaign process, ensuring you understand your obligations and rights.
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Representation: We represent landlords in communications with HMRC, helping to negotiate favourable terms and minimise penalties.
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Full Compliance: Our goal is to help you achieve full compliance with tax laws, ensuring you correctly report rental income and deductions.
Contact Us
Need assistance with an HMRC enquiry? Contact us today to speak with our Tax Dispute Experts and protect your interests.
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