HMRC is getting tougher with landlords who have ignored appeals to file their tax returns on time.
From May 1st, late filers will have to pay £10 a day for up to 90 days on top of the £100 fine already imposed – making a possible maximum fine of £1,000. Continue reading Late filing landlords to pay £10 a day fines
The tax man is urging landlords to keep better financial records with the help of apps on their mobile phones.
A list of several providers offering mostly free apps for a range of mobile operating systems, like Android, Windows and Apple is on the HM revenue and Customs website. Continue reading Tax man urges landlords to keep accounts on their phones
It’s not often the tax man gives something away, but from the start of the next tax year landlords can pick up a little extra.
For many landlords, big tax savings do not often come from major strategies, but from adding together several small reliefs and allowances.
Two to watch are home as office costs and business mileage. Continue reading Tax saving tips for landlords
-By Guest Columnist Mary Latham-
Landlords may be invisible but their properties are not and neither are their tenants, especially if they are among the increasing number who rely on benefits to pay their rent.
Following a meeting of the Homestamp consortium this week, I was standing on a busy street outside of a small shop talking to one of my colleagues who is an officer with one of my local authorities. Our conversation was about how we could get more landlords to work with the authority to provide homes and reduce the number of people on their homeless lists. We were soon joined by the owner of the shop who is a landlord and works with this authority to provide decent homes, so we asked him why he thought landlords were not coming forward. Continue reading Holding your umbrella upside down will not keep off the reign of the taxman
Landlords and property investors who cheat on their tax are under scrutiny from special HM Revenue & Customs task forces.
The teams in London and the North West have been so successful that HMRC has set up a third team of investigators in Scotland.
The team looking at property investors dodging tax in London is expected to yield up to £7 million in unpaid tax plus penalties and interest. Continue reading HMRC task force targets landlord tax dodgers
Landlords late with their tax returns can breathe a sigh of relief as the filing deadline is delayed due to striking civil servants.
Tax office staff belonging to the Public and Commercial Services union PCS are away from their desks for 24 hours to protest over trials of private call centres by HM Revenue and Customs. Continue reading Tax Filing Deadline Extended by 48 Hours
The tax man is tracking down landlords with undeclared rental income by demanding lists of property clients from letting agents.
Letting agents all over the UK are having to submit client lists with names and addresses of landlords and their rental properties to HM Revenue and Customs.
For many letting agents, this is the first time HMRC has asked for the information. Continue reading HMRC Tightens Tax Screw on Landlords
The New Year countdown for filing tax returns has started – with a timely reminder from HM Revenue and Customs not to be late.
Individuals and partnerships must submit their tax return for the year ending April 5, 2011, on or before January 31 – and pay any tax due.
Continue reading Tax Man Warns of New Fines for Missing Filing Deadlines
The Government wants to make working out how much tax to pay less taxing by modernising the system, combining National Insurance and income tax.
In a ground-breaking move, the Treasury has published two long-awaited consultation documents outlining a more straightforward tax system for workers and the self-employed. Continue reading Day of Reckoning for Calculating Tax and NICs
Buy to let landlords evading tax face a crack down from a new HM Revenue and Customs task force.
Tax inspectors will target buy to let landlords with portfolios of three or more properties in the North West and North Wales. Continue reading Landlord Tax Cheats Targeted by HMRC Task Force