Scrutiny of private landlords produces taxing time
A FORENSIC accounting firm with offices in Leeds and Manchester, is reporting an uptick in work from private landlords.
The Forths Forensic Accountants firm says landlords have been targeted by HMRC’s Let Property Campaign, which was launched last year to encourage private residential landlords to disclose any undeclared rental income on assets in the UK and abroad.
Forths’ specialist tax disclosures and investigations team is helping a growing number of landlords to calculate the amount of money they owe in order to clear up their affairs.
Managing director, Richard Forth, said: “In addition to assisting private individuals, we have worked with a number of solicitors and letting agents to assist their private residential landlord clients through the Let Property Campaign.
“The size of the disclosures have varied depending on the number of properties in the portfolio, over how many years tax might be owed and how many individuals are involved, in joint ownership scenarios, for example. We have seen a broad mix.
“The Let Property Campaign targets private residential landlords, but there have been other HMRC campaigns for other professions, most recently the Solicitors Tax Campaign.”
Forths, which has a team of 40 across its Leeds and Manchester offices, specialises in insurance litigation, criminal defence, fraud investigations, commercial disputes and valuations, as well as tax disclosures and investigations.
