Tax Enquiries & Investigation
Let Property Campaign
The Let Property Campaign (LPC), introduced in 2013, is a disclosure initiative of HMRC aimed at encouraging landlords who own and rent out residential properties to come forward and disclose any rental income they may have previously undeclared to the tax authorities.
Who is Eligibility for Let Property Campaign?
Eligibility for Let Property Campaign
The Let Property Campaign has a wider range of coverage for landlords who can take advantage of its benefits. Nonetheless, there are some exceptions to keep in mind.
Any landlord who has undeclared income related to residential property can apply for the Let Property Campaign. This includes landlords:
Renting out a room in your main home for more than rent a room scheme threshold (£7,500)
Renting out single or multiple properties
Living abroad and renting out the property in the UK
Living in the UK and renting out the property abroad
Renting out of holiday home even if it is for personal use
What are the penalty for let property campaign?
Let Property Campaign Penalties
When determining penalties, HMRC considers the behaviour that led to the understatement, whether you voluntarily came forward, and the quality of your disclosure.
The penalties are calculated as a percentage of the potential lost revenue which is additional tax amount payable by the landlord after taking into consideration of undisclosed property income.
Penalties for Faliure to Notify
Penalties for Inaccurate Returns
What We Offer
We provide personalized accounting and tax advising services, in contrast to many other accounting firms. We distinguish ourselves from the competition by our expert service and outstanding offerings.
Quality Sevice
Our success depends on you. We always work to you the best service possible that is specially designed for you.
Dedicated Support
At Sterling Wells, we always give our clients with the full and focused support they need in order to achieve the best possible results.
Personalised Service
Customer satisfaction is our guiding concept. By putting an emphasis on consistency and communication, we aim to complete the task.
Client Satisfaction
Customer satisfaction is our guiding concept. By putting an emphasis on consistency and communication, we aim to complete the task.
Quick Response Time
You can expect the assistance of our knowledgeable professionals to start right away.
Free Consultation
Take advantage of our free initial tax consultation, which will last for 15 minutes.
