Voluntary disclosure of rental income
Voluntary Disclosure of Rental Income
If you know you have received income from renting out a property, in any shape of form, but have not received a letter as yet and you know that backdated information needs to be reported, you can still register voluntarily and benefit from more favourable penalties.
In fact, it is much better to come forward to HMRC, before they come to you. Remember, it is only a matter of time as you can see from my page entitled ‘What HMRC knows about me”.
The online disclosure facility under the HMRC Let Property Campaign is an initiative targeting landlords with undeclared rental income and has been running for many years as a successful and less confrontational way for HMRC to get your affairs in order and collect any back tax etc due. It allows you to bring your tax affairs up to date and go forward filing correct tax returns in future.
Any investigation into your tax affairs is likely to be highly disruptive to your business and family life, but it can also be expensive in terms of tax etc and professional fees. Here Lindsay’s involvement pays dividends, as not only will she give you a free initial overview on the phone, but her prices are more than competitive, for someone with over 40 years’ experience, both inside HMRC as a Tax Inspector and on the other side, the kind side helping you!
For Voluntary Disclosures such as this she will give you a fair and reasonable FIXED PRICE Quote you can rely on, once you have provided her with all the information she needs to quantify the work needed.
It essential that you get expert, specialist advice from the very minute that you receive the letter, and a phone call is the best way – with ‘nothing ventured, nothing gained’ you will find Lindsay very approachable, practical, knowledgeable, helpful and never judgemental with no pressure!
Whatever you decide you will go forward with more information, peace of mind as ‘forewarned is always forearmed’ and everything is in complete confidence. And no, you are not going to jail!
Call 07879 464 577 at any time, but often a quick text, or contact on email or in the calendar first, ensures we both have time to devote to hearing your story and fears.
