HMRC’s latest tax disclosure campaign is aimed at residential property landlords. No closing date has been set and the opportunity to come forward voluntarily will remain open for at least 18 months. HMRC said: ‘By coming forward voluntarily, people will receive the best possible terms. Any penalty they pay by coming forward voluntarily will be lower than if HMRC comes to them first – which can be up to 100% of the tax due and a possible criminal prosecution’.
HMRC’s latest tax disclosure campaign is aimed at residential property landlords. No closing date has been set and the opportunity to come forward voluntarily will remain open for at least 18 months. HMRC said: ‘By coming forward voluntarily, people will receive the best possible terms. Any penalty they pay by coming forward voluntarily will be lower than if HMRC comes to them first – which can be up to 100% of the tax due and a possible criminal prosecution’.
