Is the Let Property Campaign Relevant to You? Key Considerations for Birmingham Landlords

If you’re a Birmingham landlord who hasn’t fully declared rental income to HMRC, the Let Property Campaign could be highly beneficial for you.. The campaign provides landlords with a chance to voluntarily come forward and get their tax affairs in order with lower penalties and possible protection against further investigation.

What Is the Let Property Campaign?

The Let Property Campaign is a disclosure opportunity made available by HMRC to allow single landlords to admit undeclared earnings from rental properties. Whether you own a single property or several buy-to-lets, if you have missed rental income on your tax returns – even unintentionally – this campaign allows you to make a full disclosure with favourable settlement terms.

The Let Property Campaign encompasses the various scenarios, including:

Undeclared Rental Income: If you’ve received rent and haven’t reported it to HMRC through your self-assessment tax returns, the campaign is likely relevant.
Incorrect Expense Declarations: Declaring expenses that are not permissible or over-declaring permissible expenses can also contribute to inaccuracies in your tax expenditure, necessitating a disclosure under the campaign.
Undeclared Capital Gains: If you’ve sold a let property and haven’t correctly reported the capital gain, this falls under the scope of the campaign.

Why It Matters for Birmingham Landlords

Numerous Birmingham landlords may not know that even minor slips — such as renting income from a lodger or occasional Airbnb lets — may put them in jeopardy. HMRC can identify differences between reported and actual earnings through advanced data sources and analytics. Delaying a nudge letter or formal inquiry may lead to greater penalties or court action.

That’s why Let Property Campaign assistance in Birmingham is becoming ever more essential. Professionals, such as Wingate Accountants Ltd., will help you make your disclosure complete, accurate, and up to HMRC standards.

When Should You Act?

The sooner you take action, the better. Voluntary disclosure tends to incur lower penalties — usually 0% to 20% — but prompted disclosure following contact from HMRC can incur penalties of up to 100%, although this will depend on the severity of the mistake and if it was intentional. If you’re not sure, it’s best to consult a tax advisor such as us, who knows the ins and outs of tax compliance for landlords.

Standard situations where disclosure is needed are:

Renting a previous home
Holiday or short-term lettings
Multiple homes not completely declared
Inherited property earning rental income

So, are you a landlord who needs help navigating the Let Property Campaign and tax regulations? Seek Let Property Campaign assistance in Birmingham and ensure your tax affairs are in order.

How Wingate Accountants can help you:

HMRC provides a special facility in these cases called Let Property Campaign facility. We will assist you with that. As been Tax Investigation experts, we have done so many disclosures and know exactly how to deal each case to their merit and keep the client’s interest as priority.

We are experienced in dealing with HMRC and we would always recommend talking to a tax professional before trying to deal with the issue directly with HMRC yourself.

Whether it would be a case where you voluntarily want to disclose off matters to HMRC or in case you have received a letter from HMRC and feeling scared.

Don’t worry we are here to help you on that, we roughly do more than 150 disclosures in a year and have whole devoted team for tax investigations and compliance.

We will deal your case from start – notification to HMRC about the LPC disclosure till the process of completion, where HMRC will accepts our disclosure and provide us relevant time to make the payment.

During the whole process there would be much correspondence between us and with HMRC. Being Tax investigation experts, we do our best to keep the stake of our client intact.

Many clients we deal in the past and currently feels more confident after we sort out their cases and the way we proceed with their case.

We have a fair and transparent policy in dealing with these cases.

If you have received a letter from HMRC then get in touch with us, briefly explain the tax matter in contact form provided below and provide us wih your contact details: Phone number and Email address.

Our team of Tax specialist will book a Phone call or Zoom meeting with you initially and lets you to discuss your tax matter with us and will make a strategy, what best suits in your cases.