If you own a rental property in Hertford or Ware then watch out - Her Majesty’s Revenue and Customs (HMRC) is cracking down on landlords' undeclared rental income.
Only half a million of the UK’s 1.4 million landlords are registered with HMRC, despite their Let Property Campaign being launched last year, which allows landlords ensure their tax affairs are in order (source: HMRC).
The campaign runs until spring 2015 and allows landlords to escape prosecution for non-payment of tax, or receive reduced penalties. HMRC aims to collect the half a billion in tax that landlords fail to pay each year.
Treasury Secretary Danny Alexander said that landlords must “pay up or face the consequences.”
If you think you might have underpaid tax on your rental property in Hertford or Ware you can contact the Let Property Campaign on 03000 514 479.
