Thursday, March 14, 2013

One million landlords accused of not paying tax

According to the Metro about 1million private landlords did not declare any revenue in the past tax year, compared with 1.9 million who did. The paper accuse landlords of defrauding taxpayers out of £550 million a year.
However the HMRC sprang to our defence saying ‘The majority of buy-to-let landlords pay what the law requires and evasion is far from endemic."

Now come on - whose of you haven't coughed up yet?

Landlord insurance here - discounted portfolio rates


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1 comment:

  1. schoccaApril 12, 2013 at 10:28 AM

    A landlord would be daft to not report and pay their dues to HMRC.

    - Agents have been reporting Landlord income to HMRC for years now.
    - Land Registry names/numbers are accessible to HMRC.
    - Don't forget that Stamp Duty has the purchasers NI number on it as well (so HMRC can easily see who is buying multiple properties).
    - Additionally, HMRC has significantly improved reporting and investigation tools. This came out in the FT Personal Finance section in January.
    This reporting toolset is very good at picking out inconsistencies in income vs tax.

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