Holden Associates – Accountants & Business Advisers Blog

HMRC have now started to write to people who own UK property that they do not appear to live in, and who are not declaring any rental income.

If this is you and you have recently received a letter from HMRC I would urge you to not ignore it.

If you have not received a letter, and you are not declaring rental income that you are in receipt of, now would be a good time to come clean and seek professional advice, not all the income you receive will be taxable, there are expenses that can be taken into account when calculating your rental profits.

Remember, HMRC know where you don’t live.