Landlords in the UK have made 13,000 disclosures through the tax man’s let property campaign was launched in 2013 to encourage those owing tax to get their affairs in order.
To date the campaign has brought in £50 million in unpaid tax and HMRC believes that most of those failing to declare rental earnings owe only a few hundreds of pounds of tax a year.
Indeed, many are thought to be small scale, amateur landlords renting out a property as a retirement nest egg, or accidental landlords letting out a former home they have been unwilling or unable to sell.
