Landlords and HMRC
Discussion
I own a property that is rented out. It s in my name but for tax purposes, I made a declaration of trust and all income was in my wife s name.
Last month I received a letter from HMRC saying that they believed I hadn t been paying tax on a rented property I owned, (no specific address, just a property). I guess they ve been trawling through the land registry and been checking the owner v who s actually living there.
After a call and email explaining the situation all is resolved but I should imagine some are in for a rude awakening. I used to work with a guy who rented a place out for cash to a mate, no contract etc, and had done so for years. Could end up being very expensive.
Last month I received a letter from HMRC saying that they believed I hadn t been paying tax on a rented property I owned, (no specific address, just a property). I guess they ve been trawling through the land registry and been checking the owner v who s actually living there.
After a call and email explaining the situation all is resolved but I should imagine some are in for a rude awakening. I used to work with a guy who rented a place out for cash to a mate, no contract etc, and had done so for years. Could end up being very expensive.
Edited by Kwackersaki on Friday 31st July 19:14
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