Any real repercussions?

Any real repercussions?

10:32 AM, 14th August 2015, About 6 years ago 16

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After chatting with a BTL colleague, I’m fairly sure this is unethical and possibly illegal, but I doubt there will be any real repercussions.tax fraud

– My colleague became a first time BTL landlord earlier this year
– Advertising and offering unfurnished property
– Self Assessment tax return will include personal residence receipts for furnishings to benefit from Wear & Tear allowance
– Next year will continue the same and buying new items for personal residence and continuing to claim W&T

I doubt the tax man will check if the BTL property was being advertised as furnished or not…so I presume no repercussions in reality.

Throwing it there as I am curious if my colleague is correct.

Thanks
Ray



Comments

by Colin Dartnell

23:13 PM, 14th August 2015, About 6 years ago

You are obviously testing the water here, you know it's illegal what you propose, perhaps you are hoping that other landlords will tell you, yes try it on they have. Well you are in the wrong place here, one of the things that reading threads on 118 shows is that most landlords are an honest bunch.

Perhaps you are trying to catch someone out, for your own dubious ends. Maybe you are a troll and want an argument , or visiting from a less than savoury site and want fuel for your twisted fire, either way this isn't the place for your 'friends' thoughts.

by Ray .

23:32 PM, 14th August 2015, About 6 years ago

Wow slightly amazed and impressed at the volume and bluntness of the responses, must say innocent until proven guilty. Was a water cooler moment chatting on this subject and playing the devils advocate was intrigued to see if there were any material repercussions.

Would agree with most thoughts on here but at the same time still unconvinced this is big enough fish for the prosecutors to fry. Nonetheless everyone's entitled to their opinion, just challenging the reality/ likelihood of any credible steps that can be taken, which I can see there are some good points and I thank you for that

by Colin Dartnell

23:34 PM, 14th August 2015, About 6 years ago

Ahah! Then it's a troll we have here. Yawn. Zzzzzzzzzzzzz!

by Connie Cheuk

0:10 AM, 15th August 2015, About 6 years ago

Reply to the comment left by "Ray ." at "14/08/2015 - 23:32":

Ray, I think there are numerous landlords out there who would not think twice about doing what your friend proposes. There are enough programmes featuring dishonest landlords who couldn't care less about their tenants or the conditions that they live in, for example. They would hardly lose sleep over doing something like this.

I did write on a thread about my current lodger and his drunken ways, and although I knew what the responses would be, it was also reassuring that people sympathised, understood and offered their take on the situation. I hope you find this site useful for the reasons you stated, even when others contest your views. Many of us are on here to become better landlords and to learn from others, as I have for the past three months or so.

All the best.

by Adrian Jones

9:31 AM, 15th August 2015, About 6 years ago

Reply to the comment left by "Ray ." at "14/08/2015 - 23:32":

So now that you think this is not a big enough fish to fry (ie you could probably get away with it), does this mean you and your "colleague" will submit fraudulent tax returns in the knowledge you are doing so illegally?

by Harlequin Garden

11:53 AM, 15th August 2015, About 6 years ago

It is very sad that your view of business is not 'how well can I do' but 'how much can I get away with'. Flying below the radar is never a good place to be, but then you do have all sorts of unscrupulous landlords operating HMO's that are never registered, accommodation not up to standard - depends how low you want to fly this flag.


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