Specialist Let Property Campaign accountants in Milton Keynes, helping landlords disclose undeclared rental income to HMRC calmly and correctly.
Let Property Campaign & Income Disclosure
How the Let Property Campaign Actually Works
The Let Property Campaign is HMRC's voluntary disclosure route for individual residential landlords who have undeclared rental income from UK or overseas property. You notify HMRC through the Digital Disclosure Service, receive a unique reference number, then have 90 days to submit a full disclosure and pay what is owed. Penalties are charged as a percentage of the tax due and depend on your behaviour, so an unprompted disclosure almost always costs far less than waiting for a nudge letter. The campaign covers single lets, multiple properties and holiday homes.
Experienced Disclosure Specialists in Milton Keynes
At Atlas Tax Advisors, our team has guided landlords across Milton Keynes and the wider UK through every stage of this process, from the first nervous phone call to the final settlement letter. We reconstruct several years of rental accounts accurately, claim every allowable expense and relief you are entitled to, and present clear working papers that HMRC officers can follow without question. Using HMRC recognised software, we keep your figures consistent and your records secure, which protects your position and keeps the disclosure moving without unnecessary delays.
Lower Penalties and Genuine Peace of Mind
Landlords tell us the biggest relief is simply knowing where they stand. We explain each step in plain language, manage the correspondence with HMRC on your behalf, and work hard to secure the lowest penalty allowed by law, which in many genuine cases is reduced to nothing. As HMRC widens its data matching from letting agents, banks and the Land Registry, acting early matters more than ever. If you have undisclosed rental income, contact Atlas Tax Advisors today for a confidential, no obligation review of your position.
FAQs
Q1. What is the Let Property Campaign? It is HMRC's voluntary disclosure scheme for individual landlords with undeclared residential rental income, whether from UK or overseas property. It offers lower penalties than being caught later. Q2. Who can use the Let Property Campaign? Individual landlords letting residential property, including single lets, multiple properties, holiday lets and renting above the Rent a Room limit. It is not open to limited companies, which use other disclosure routes. Q3. How does the disclosure process work? You notify HMRC through the Digital Disclosure Service, receive a disclosure reference number, then have 90 days to calculate, submit and pay the tax, interest and any penalty due. Q4. How many years do I need to disclose? It depends on your behaviour. Reasonable care that still led to an error usually covers fewer years, while careless or deliberate behaviour can extend the period considerably. Q5. What penalties will I pay? Penalties are a percentage of the tax owed, based on your behaviour and the quality of your disclosure. Coming forward voluntarily before any nudge letter attracts the lowest rates, and can sometimes be nil. Q6. What is a nudge letter? A prompt from HMRC suggesting it holds information indicating undeclared income. Once received, your disclosure becomes prompted, which limits the penalty reduction available, so prompt action matters. Q7. Where does HMRC get its information? From letting agents, banks, the Land Registry, deposit schemes and overseas data sharing. Its Connect system links these sources, which is why undisclosed rental income is increasingly easy to spot. Q8. Can I claim expenses against the rental income? Yes. We make sure allowable costs such as repairs, agent fees, insurance and the mortgage interest tax reducer are correctly claimed, so you only pay tax on the right amount. Q9. What if I cannot pay everything at once? HMRC may agree a time to pay arrangement. We can discuss your circumstances and put a realistic proposal to HMRC as part of the disclosure. Q10. How can Atlas Tax Advisors help? We handle the whole process, reconstruct your rental accounts, calculate the position accurately, deal with HMRC and work to secure the lowest penalty allowed by law.