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Published Date: 14 May 2008

If you're a landlord, let's hope the post doesn't contain a nasty HMRC letter for you

The taxman's after landlords with mortgages

If you're a landlord and you don't currently pay any income tax on your investment, beware – the taxman could be coming after you.

Accountancy firm DTE says people who have a buy-to-let and see their rental income gone in mortgage payments are most at risk.

Her Majesty's Revenue & Customs (HMRC) is actively targeting landlords who don't declare rent on their tax returns.

It believes there is a pot of tax cash waiting for it.

Tax inspectors can find out about your purchases using stamp duty tax returns. And if you own a property you don't live in, they will probably write to you.

DTE says there is no legal need to respond, but if you don't there's a chance HMRC will formally look into your affairs.

The advice is to consult an accountant if you think you may have something to declare. Doing it voluntarily can reduce any penalties for non-disclosure in years gone by.

Last Updated: 14 May 2008 01:45 PM

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