Tax Evasion by Landlord ?

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    #16
    Oh all right: How about.....

    "if all the tax cheats paid what they should, the Government could decide what to do with the extra £££, including reducing general taxation rates...."
    I am legally unqualified: If you need to rely on advice check it with a suitable authority - eg a solicitor specialising in landlord/tenant law...

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      #17
      Originally posted by mattl View Post
      As painful as it is, but somehow I refuse to believe this is true...
      I do tend to agree with you but if this is evasion is taken by too many then thats when either our overall debt goes up or we cut services, either way its not ideal.

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        #18
        In Post No. 12, the link shows hmrc campaign are currently chasing BTL landlords and solicitors with undisclosed income. Past campaigns have included plumbers and electricians .

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        Latest Activity

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        • Let Property Campaign.
          by armour
          Hi all,

          A friend of mine has been renting out a flat since 2004 and has not declared any of the income to HMRC in all that time.

          She wants to come clean and pay the accumulated income tax she owes by making a non-prompted disclosure using the Let Property Campaign system....
          13-09-2021, 13:45 PM
        • Reply to Let Property Campaign.
          by theartfullodger
          See..
          https://www.landlordzone.co.uk/news/...erty-campaign/

          Well done HMRC..

          None of my business, and obviously not in anyway a criticism of anybody, but If I had had a friend who I found out had been fiddling tax for 16 years they'd no longer be my friend.
          ...
          18-09-2021, 11:46 AM
        • Reply to Let Property Campaign.
          by armour
          Fair enough. Thanks for your advice. It is on cash basis.

          I guess it would only save her 50 odd quid anyway, maybe less than £80 once the fine and interest is added. I guess she'll have to swallow that.
          Once again, thanks JP and Gordon for your help.
          Chris
          18-09-2021, 09:07 AM
        • Overseas Landlords
          by Santa Fe
          I'm from UK but live overseas and recently discovered that I should be registered as an overseas landlord. I've done a bit of research on what it involves and it seems a bit of a headache - tenants have to fill out forms and pay tax from their rent direct to HMRC. If anyone here is registered as an...
          16-09-2021, 16:44 PM
        • Reply to Overseas Landlords
          by Santa Fe
          Boletus, thank you.
          17-09-2021, 18:37 PM
        • Reply to Let Property Campaign.
          by jpkeates
          armour - Sorry, I don't know.
          It might depend on whether you're accounting on the cash basis (in which case I suspect not) or the accrual basis (when it's possible).

          But it's not something I ever got involved with when the W&T allowance existed, and all of the practical guidance...
          17-09-2021, 11:43 AM
        • Reply to Let Property Campaign.
          by armour
          Thanks JP, that's clear. I'll put the bathroom in with the income tax then. I guess it's much of a muchness anyway as the associated reduction in interest and fine will probably equal out.

          I have one last question, if you'd be so kind.

          During the year she had to make the eviction,...
          17-09-2021, 09:18 AM
        • Reply to Overseas Landlords
          by boletus
          You fill out this form requesting to have rental income without deduction of tax and pay it yourself;

          https://www.gov.uk/government/public...dividuals-nrl1
          16-09-2021, 17:26 PM
        • Reply to Let Property Campaign.
          by jpkeates
          The 10% was for furnishings, so built in stuff should be ok to claim.
          The bathroom refurb depends on what was done if it was simply a replacement, it's maintenance, if it was a significant upgrade, it's likely to be part capital/part maintenance.
          If it's a new bathroom, it's probably ca...
          16-09-2021, 08:37 AM
        • Reply to Let Property Campaign.
          by armour
          Seems pretty clear there JP. I'll go ahead and alter my calculations

          One more thing, My friend had a bathroom refurb and a built in oven and hob replaced during the period when the flat was let furnished. I'm pretty sure that these costs can be detucted in addition to the 10% W&T, but...
          15-09-2021, 14:06 PM
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