Do you let out a second home or other property in south Wales?  If you do and you haven’t declared the income you receive to HMRC then you could get a letter or even a knock on your door fom the taxman.

HMRC has recently announced the creation of several new taskforces to focus on tax evasion across
the UK including one focussing on property tax evasion across south Wales and south-west England.  Those found to have committed offences face hefty penalties and possibly criminal prosecution as
well, with HMRC expecting to raise over £100m from these taskforces during 2014/15.

This taskforce should not be confused with HMRC’s Let Property Campaign, which is an opportunity for taxpayers to come forward voluntarily to bring their tax affairs up to date if they’re an individual landlord letting out residential property in the UK or abroad and to get the best possible terms to pay the tax they owe.

If you rent out property and think you may not have paid the right amount of tax then talk to
Pemberley Accounting before the taxman comes to talk to you!  We can check how much tax you should pay and if you haven’t paid enough advise you on the best way forward.

To get peace of mind call Katy today at Pemberley Accounting on 07810 518812 or e-mail gunnell.pemberley@hotmail.com