More Revenue Crackdowns – Property Rental

Do you have undeclared rental income? If you do then expect a discrete letter from your local tax inspector.You may even receive such a letter if you own a second property. The revenue is targeting individuals who own a property in which they do not appear to live in. They are then asking if you should be declaring any rental income. In many cases, these properties will be weekend retreats and a polite reply to that effect should end any further questions from the revenue.

If you do have undeclared income it would make sense to pre-empt the Revenue questions and make a full declaration of any unpaid tax now. We can help you do this, so please contact Andy Scott, Tax Director, on 0118 923 5800. Undertaking a proactive approach will certainly help to mitigate any penalties for under-declaration of tax.