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Undeclared Rental Income

swetasweta New MemberRegistered Posts: 13
I have a client who has just informed me that she hasnt declared her rental income since 2001, dont know how far can we go to submit SATR, can we submit paper returns or online.
will hmrc require to go back all those years.
please advise.

Comments

  • BIG WALBIG WAL Well-Known Registered Posts: 133
    HMRC are running a campaign offering an opportunity for landlords to put things right. Basically it would involve declaring the unreported income with penalties, (probably around 20% - but not sure), being reduced for coming forward. Unless there's anything fraudulent, HMRC would then accept that and not take any further action.

    Suggest you mention this to your client and if they want to take advantage of it then call the Let Property Campaign Hotline to discuss with them. Not necessary to tell them about yourself, but no reason not to. You can just say you've been approached by someone enquiring about it - and if they ask tell them at this stage you're not in a position to disclose confidential information till you get the agreement of your client to do so.

    Tel number is 03000 514479.




  • swetasweta New Member Registered Posts: 13
    Thanks Big Wal your advice is appreciated
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