The Let Property Campaign provides landlords with undeclared income from residential property lettings in the UK or abroad with an opportunity to regularise their affairs by disclosing any outstanding liabilities, whether due to misunderstanding the tax rules or deliberate tax evasion.



Participation in the campaign is open to all residential property landlords with undisclosed taxes. The campaign is not suitable for those letting out non-residential properties.

Landlords who do not avail of the opportunity and are targeted by HMRC can face penalties of up to 100% of the tax due, together with possible criminal prosecution. The guidance has been updated for the current tax year.

Taxpayers that come forward will benefit from better terms and lower penalties for making a disclosure. Landlords that make an accurate, voluntary disclosure are likely to face a maximum penalty of 0%, 10% or 20% depending on the circumstance, on top of the tax and interest due. There are higher penalties for offshore liabilities. 

There are three main stages to taking part in the campaign:

-       notifying HMRC that you wish to take part

-       preparing an actual disclosure and

-       making a formal offer together with payment.

You will have 90 days to work out and pay what you owe.

The campaign is open to all individual landlords renting out residential property. That includes:

-       landlords with multiple properties

-       single rentals

-       specialist landlords with students or workforce rentals

-       holiday lettings

-       renting out a room in your main home for more than the Rent a Room Scheme threshold 

The Let Property Campaign is not open to landlords letting out non-residential properties such as shops, garages or lockups.

If you would like more advice regarding the Let Property Campaign and how to make a disclosure, please contact us at info@gkaccountingservices.com or call us on 01269 508 081, where we will be more than happy to answer any of your questions.