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Let Property
Campaign Specialists

HMRC Let Property Campaign

Do you need To Declare Income From Property?

If you need to disclose undeclared property income, HMRC Let property campaign is the way forward. You may already have received a letter from HMRC instructing you to make a disclosure.

  • Brings your Tax affairs completely up to date, using a structured HMRC disclosure process.
  • Suitable for prompted or unprompted property Tax disclosures.
  • Declare un-taxed income from a single property or multiple properties within the last 20 years.
  • The HMRC Let Property Campaign is an efficient disclosure process route.

LET PROPERTY CAMPAIGN EXPLAINED

The HMRC Let Property Campaign is a disclosure process that enables individuals to bring their Tax affairs up to date. It is specifically designed for people who need to disclose income from property – such as undeclared rental income.

100% of our disclosures on behalf of our clients have been successful with HMRC; the Let Property Campaign is an efficient process that allows our clients to bring their Tax affairs up to date.

Why Should I Use The HMRC Let Property Campaign?

Tax evasion is a criminal offence that could result in prison in the most serious of cases. The Let Property Campaign provides you with the opportunity to bring your Tax affairs up to date and avoid the potential for criminal prosecution moving forward.

It is possible that HMRC may already have written to you, inviting you to make a disclosure. This is usually because HMRC holds information relating to your Tax affairs and believes that you may need to disclose property-related income. This scenario is extremely sensitive and you must seek professional help and disclose to relevant income as soon as possible.

How would I Make A Disclosure Under The HMRC Let Property Campaign?

Disclosure process could be tricky, it is therefore recommended to consult with a Tax disclosure specialist before undertaking any HMRC Tax disclosure. This way, you can be sure that the disclosure process will run as smoothly as possible and you wouldn’t encounter any unexpected hurdles along the way.

If you need to apply to make a disclosure relating to untaxed property income, please contact us for a consultation with our disclosure experts – they shall be able to talk you through the entire application process.

What Information Do I require When Making A Let Property Campaign Disclosure?

When making a disclosure under the Let Property Campaign, you would want to have as much information to hand as possible. This commonly includes details of income and expenditure – such as letting income statements and bills for maintenance & repairs.

We understand that you wouldn’t want to pay any more Tax than you have to, and having access to accurate information will greatly assist your adviser in this regard.

To find out what expenses can be claimed In order to reduce your Tax liability, please contact us for a consultation with our disclosure experts.

How Churchill Tax Can Help?

We help clients just like you to overcome all aspects of complex tax problems – such as disclosures under the Let Property Campaign.

During your initial consultation, our specialists will build an understanding of your case and formulate a strong plan of action to resolve the issues you might be facing.

HMRC are only interested in receiving the LPC disclosure form if there is tax due. In some cases, there will be losses and we always send HMRC a copy of the profit and loss account showing the losses and confirm that they will be taken to the self-assessment Tax return to set against future profits.

If you believe that you may need to make a disclosure, or have received a letter from HMRC, please call us on 0333 577 0829 for a consultation with a professional – you have only to gain by getting in touch.

LET PROPERTY CAMPAIGN EXPLAINED

The let property campaign is an opportunity for landlords who owe tax through letting out residential property, in the UK or abroad, to get up to date with their tax affairs in a simple way and take advantage of the best possible terms. 

If you are a landlord and you have undisclosed income, you must tell HMRC about any unpaid tax now. You will then have 90 days to work out and pay what you owe. This is called an unprompted disclosure in that the individual volunteers to HMRC that they wish to declare rental income.

SCOPE OF LET PROPERTY CAMPAIGN

The Let Property Campaign is an opportunity open to all residential property landlords with undisclosed taxes. This includes:
  • Those that have multiple properties.
  • Landlords with single rentals.
  • Specialist landlords with student or workforce rentals.
  • Holiday lettings.
  • Renting out a room in your main home for more than the Rent a Room Scheme threshold.
  • Those who live abroad or intend to live abroad for more than 6 months and rent out a property in the UK, as you may still be liable to UK taxes
This campaign is not open to those landlords who are letting out non-residential properties such as a:
  • Shop
  • Garage
  • Lock up
You cannot use the Let Property Campaign if you want to disclose income on behalf of a company or a trust. Also, different rules apply to Landlords who jointly own property with their husband, wife, or civil partners. Unlike many historic HMRC campaigns, the Let Property Campaign has not got a date by which HMRC will close it so it is no longer available. The Let Property Campaign is a way for anyone who has income from letting out a residential property to put their tax affairs in order. To participate in the Let Property Campaign an individual must have rental income to declare to HMRC. Most people do not notify HMRC of the fact that they have rental income as often by the time the costs and mortgage have been deducted from the rental income there is little if any profit and before the dramatic fall in interest rates in 2008 this was generally the case. People are not aware that regardless of whether they make a profit or not then rental income needs to be declared to HMRC.

HOW TO TAKE PART?

Periodically HMRC has the legal power to obtain information regarding housing benefit or from letting agents and in turn HMRC will write to the individual to whom the rent is paid and invite them to take part in the Let Property Campaign. This is called a prompted disclosure and has a higher penalty than unprompted disclosures. 

For instances where there are reasonable records and only one property then the 3 month suggested deadline is reasonable where an experienced tax advisor is doing the calculation and the profit and loss account. For more complex cases, although HMRC suggest the 3 months, if it is going to take longer to complete the Let Property Campaign forms then we have found that clear communication will result in the agreement of extended time to deal with the Let Property Campaign.

When the form is received by HMRC they are entitled to ask questions but having undertaken hundreds of these types of disclosures we have found that providing good information is provided to HMRC with the Let Property Campaign form then they generally get accepted.

DISCLOSING UNPAID PROPERTY TAX

HMRC are only interested in receiving the LPC disclosure form if there is tax due. In some cases, there will be losses and we always send HMRC a copy of the profit and loss account showing the losses and confirm that they will be taken to the self-assessment tax return to set against future profits. 

HMRC claim that the Let Property Campaign gives an individual a more favourable penalty position than if they made a disclosure by other routes. Although we do not necessarily agree with this statement it is the only route for people who have undeclared rental income only.

Disclose Property Income

We appreciate that every tax investigation is different and we tailor our approach based on the individual circumstances for each investigation in order to provide the best possible service.

BOOK A CONSULTATION

Churchill Tax provides all types of tax advice on complex issues to individuals and companies across all sectors. We make the time and effort to understand our client’s businesses and needs and our tax experts have a proactive and flexible approach to helping clients overcoming the challenges they face.

GOT A QUESTION?

‘If you believe that you may need to make a disclosure, or have received a letter from HMRC, please call us on 0333 577 0829 or complete a contact us form to book a consultation with a professional – you have only to gain by getting in touch’

HOW WE DEAL WITH HMRC

At Churchill Tax we have extensive experience dealing with HMRC Investigations and we regularly deal with Tax Inspectors within HMRC’s Specialist Investigations and Local Compliance Fraud teams.

Our people have worked in Tax Investigations teams at ‘Big 4’ accountancy firms, niche tax investigations practices and within HMRC as Tax Inspectors.

At Churchill Tax, our personal, friendly and understanding approach ensures that we provide the best possible service at the most competitive prices. 

WHAT WE OFFER

WE UNDERSTAND REQUIREMENTS
We are amongst the UK’s leading Tax specialists with a wealth of experience. We provide professional firms, individuals and privately owned businesses with a comprehensive range of specialist tax & advisory support across all of the major taxes.
WE WORK PRECISELY
When appointing a Tax specialist to act on your behalf, it’s important to know that you’re in good hands. You need to know that the advisor you appoint has the experience, skills and courage required to achieve the best possible outcome for you.
WE DELIVER BEST OUTPUT
Our role is as much about supporting our clients personally as it is about providing professional and effective Tax representation. This is why we have implemented facilities such as flexible payment options , that aim to make the process straight forward and stress free.

Have you received a notification of HMRC investigation?

BOOK A CONSULTATION

Churchill Tax provides all types of tax advice on complex issues to individuals and companies across all sectors. We make the time and effort to understand our client’s businesses and needs and our tax experts have a proactive and flexible approach to helping clients overcoming the challenges they face.

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