HMRC let property campaign
We are seeing an increase in taxpayers being targeted by this campaign.
We have helped many buy to let landlords get their tax affairs up to date by producing a simple income and expenditure statement. Historically the declaration was not so much of a problem when interest rates were higher.
This is because there was little or no profit to declare, but with low interest rates, it would be unusual to not show rental profits, unless there are void periods or large repairs and maintenance.
Therefore it is even more important to declare as soon as possible.