The Let Property Campaign shows no sign of relenting, and it has come to our attention today (5th December 2014) that H M Revenue and Customs are to send out another two batches of letters to landlords; one somewhat smaller batch before Christmas, but then one HUGE batch of many thousands just after the festive period.
Read MoreAnnounced at the Autumn Statement, big changes were announced to Stamp Duty Land Tax. It has been reported that 98% of buyers would benefit from the changes, which came into effect yesterday, 4th December 2014. The announcement added that those who had exchanged on 3rd December or earlier, yet completed the purchase on 4th December
Read MoreAs landlord and property tax specialists, RITA4Rent are always delighted to receive feedback on our services to clients. We have been heavily involved in assisting clients with the Let Property Campaign since HMRC launched this over a year ago. We have an extremely high success rate with Let Property Campaign cases, and one of our clients,
Read MoreGiven the sheer volume of letters being sent out by HMRC with regards the Let Property Campaign, we understand that HMRC are struggling to cope with the demand, and there are now serious delays in every stage of the process. Disclosure forms (DO2) originally were taking approximately between 4 and 12 weeks to be accepted,
Read MoreIt has been reported today by Property Industry Eye that Kate Barker, formerly of the Bank of England, has made a bold statement within her upcoming book release. Her feeling is that capital gains tax should be charged not just on investment property and second homes, but also private home sales. Essentially, CGT is a tax
Read MoreToday’s blog explores Form 17 declarations and the tax treatment of jointly held property of married couples and civil partnerships. There are potential tax planning opportunities where one spouse or civil partner pays tax at the higher rate, and the other does not, and therefore it can be of benefit to have the allocation of rental
Read MoreA recent report published by the Chartered Institute of Housing and the Resolution Foundation, which RITA4Rent provided input as acknowledged, recommends a reviewed set of minimum standards, with regulation ensuring that “accredited” landlords benefit from more favourable tax breaks, whilst those “unaccredited” suffering as a result. The full report is available to read here. Simply Business reported on
Read MoreToday RITA4Rent are blogging about the HMRC Let Property Campaign letter (referred to as AI or A1 letter) which is currently being sent out to thousands of landlords with undeclared rental profits. The letters have been drafted, and the send-out is being staggered over several months. If you are a landlord with undeclared rental income,
Read MoreThe HMRC Let Property Campaign continues to intensify, and whilst tranch after tranch of letters go out to landlords with undeclared rental profits, HMRC have named and shamed a number of landlords on their website. It serves as a reminder that HMRC will do everything in their power to recoup the tax it is owed on
Read MoreAs specialist landlord and property tax advisors, RITA4Rent have been frequently asked how the penalties are affected, if you need to report your past undeclared rental income and expenditure under the Let Property Campaign, after receiving the prompted letter from HMRC. As shown in one of our previous blogs, these letters referred to by our clients
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