Tax authorities are stepping up their efforts to uncover any buy-to-let investors that have failed to declare their rental income. Letters have been sent to landlords this week from HM Revenue & Customs (HMRC) requesting for clarification on their rental income. Landlords will have nowhere to hide as HM Revenue & Customs can search the Land Registry, stamp duty records and lettings website to find rented properties. Amateur buy-to-let investors are falling foul of the tax man because they need to declare their rental income even when a buy-to-let property has made a loss.
Tags: amateur, Buy-to-let, HMRC, Landlord, landlords, tax authorities, Taxation