Landlords face knock on the door

HM Revenue & Customs is targeting the UK’s million landlords in an effort to track down those people who could be liable to pay extra tax on their buy-to-let rental income.

New measures come into force next April which give the Taxman the right to inspect landlords’ records in their own home.  While it is only the most serious cases that will warrant a knock on the door it does back up HMRC’s stated intention to crack down on tax evaders.

If you haven’t declared your rental income, the penalties will be lower if you get your tax returns in before the Taxman comes knocking.  Speak to your accountant now!