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How can HMRC find out about my rental income?

24.06.2021

Private Client

It’s time consuming running a property rental business. There are tenants to find, agents fees to manage, repairs to organise and insurance to negotiate on top of the book-keeping. 

 

Depending on the size of your property business - annual accounts may need to be prepared and you will need to complete a Tax Return.  This will involve capturing all your property income and determining which expenditure can be deducted, for tax purposes.  

 

It could be very easy to forget your obligations to the HMRC - especially as we’re now preparing Tax Returns which capture income and expenses from 6 April 2020 onwards – that’s over 14 months ago. 

 

HMRC have ways and means to track down property investors who are not disclosing their rental income. 

 

 

If your property income:

 

Started after 6 April 2020:

Started before 6 April 2020:

Contact Nicola Valentine on 01223 810100 - If you are concerned that you may need to file a Tax Return or have received property income, in previous years, and are concerned that HMRC may catch up with you.

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