HMRC Let Property Campaign
HMRC are currently allowing landlords of rental properties who have previously not declared rental income to come forward and make themselves known to HMRC. If the landlord does this HMRC will offer the best available terms in relation to penalties on the undeclared income. If the landlord fails to act and continues to ignore their responsibilities to disclose the rental income HMRC will take a tough approach once this campaign ends. Please remember that even if rental income matches any mortgage payments a landlord must still report the source of income to HMRC.