HMRC Let Property Campaign: Expert Advice for Landlords

HMRC Let Property Campaign: Expert Advice for Landlords

If you are a landlord with undeclared rental income, the HMRC Let Property Campaign is your chance to come forward, disclose what you owe, and put your tax affairs in order. Acting sooner rather than later can make a big difference to the outcome.

At Cartwright & Co, we work with landlords every week who need help with the disclosure process. Our role is to ensure you pay only what is necessary, claim the correct reliefs and expenses, and avoid unnecessary penalties.

What is the HMRC Let Property Campaign?

The Let Property Campaign is a disclosure facility created by HMRC for individual landlords who have not reported all of their rental income. It applies whether you own one property or a portfolio, and whether your property is in the UK or overseas.

Common examples include:

• Renting out a former home after moving.
• Failing to declare income from a buy-to-let property.
• Receiving income from a holiday let.
• Joint ownership where income has not been reported correctly.
• Overseas properties generating rental income.

Why Make a Disclosure?

HMRC now receives data from letting agents, the Land Registry, local councils and even foreign tax authorities. Waiting to be contacted by HMRC is rarely a good idea, as penalties are higher if they uncover the issue first.

By disclosing voluntarily through the Let Property Campaign, you can:

• Reduce penalties compared to an HMRC enquiry.
• Avoid the stress and uncertainty of an investigation.
• Demonstrate cooperation, which HMRC views positively.

How the Process Works

1. Register with HMRC – notify them that you intend to use the Let Property Campaign.
2. Collect your records – bank statements, tenancy agreements, mortgage interest statements and details of allowable expenses.
3. Calculate what you owe – this includes any unpaid tax, interest and penalties.
4. Submit your disclosure – you have 90 days from HMRC’s acknowledgement to send your figures and make payment.

How Our Accountants Can Help

The process might appear straightforward, but the calculations can be tricky, especially if you have multiple years of rental income or complex ownership arrangements. Our team specialises in working with landlords and can:

• Review your rental accounts and ensure all allowable expenses are included.
• Prepare accurate calculations of tax, interest and penalties.
• Handle the disclosure submission and liaise directly with HMRC.
• Provide advice on structuring your property income efficiently in the future.

Keeping You Compliant

After your disclosure is complete, we can help with ongoing compliance:

• Preparing rental accounts each year.
• Completing and filing your self-assessment tax returns.
• Advising on tax-efficient strategies for your property portfolio.

Take Action Today

If you have undeclared rental income, don’t wait for HMRC to contact you. The Let Property Campaign is a chance to get back on track with minimal penalties.

Contact Cartwright & Co today for confidential advice and practical support from accountants experienced in HMRC landlord disclosures.