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Landlords 'should check their taxes are in order'

Buy-to-let landlords should ensure their tax records are in order, according to industry experts.

Wealth advisors the Route Group said that landlords should check their tax position after Her Majesty's Revenue and Customs (HMRC) launched a new clampdown on undeclared rental income, reports Letting News.

Simon Pimblett, head of research and development at Route Group, told the website: "HMRC can cross-reference information from the Land Registry, stamp duty records and property agents' records with taxpayers' self assessment to identify culprits".

He added that his firm recommends that landlords get their financial records in order as HMRC can request data from up to the last six years if they suspect any tax irregularities have occurred.

In other news, two landlords from north Wales have been found guilty of running houses in multiple occupation without a license.

The case involving Jaqueline Morrison and John Wilson has been adjourned until July 22nd for sentencing, reports North Wales News.




Quantum Risk Management is a leading Health and Safety consultant

Posted on 23/06/2008

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