The tax authorities in the United Kingdom, operating under the…
The Let Property Campaign (LPC) is an initiative by HMRC to help landlords resolve any past tax issues related to their rental income. The LPC provides a way for landlords to come forward and disclose any unpaid taxes, with favorable settlement terms compared to potential HMRC investigations. This approach often results in minimal penalties if the disclosure is accurate and complete.
Who can benefit from the LPC?
The Let Property Campaign is available to a wide range of residential property landlords, including those who:
Lease one or more properties in the UK
Rent a property in the UK while living abroad
Reside within the UK and rent out a property abroad
Renting out a room in their main residence
Let properties to students
Rent out holiday homes
However, this campaign doesn’t apply to landlords renting non-residential properties like shops, garages, or lock-ups. It’s also not applicable if you’re disclosing income on behalf of a company or any trust.