Properties rental income never declared before
Guest007
Registered Posts: 54 Epic contributor 🐘
We have a client who has six properties in total. He started acquiring the properties form 2000. By 2010, he has 7 properties in total.
The client never thought of doing tax return for this rental income. He came to us and told us the situation he was interest to know how can we approach HMTC about it.
What is the maximum/minimum fines and implications to this situation?
Can somebody with some experience in similar type of case give some idea please?
Regards,
The client never thought of doing tax return for this rental income. He came to us and told us the situation he was interest to know how can we approach HMTC about it.
What is the maximum/minimum fines and implications to this situation?
Can somebody with some experience in similar type of case give some idea please?
Regards,
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Comments
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New regime penalties
http://www.hmrc.gov.uk/about/new-penalties/
Old regime penalties apply to those tax years before the new regime kicked in (2010?).
Write to HMRC asap, disclose, and then get on with getting the returns done
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Thank you dear.
Any idea about the maximum and mimimum penalties?
Needed some idea before I approach them.0 -
Whatever the penalties, the Tax Returns need to be submitted!0
