HMRC has recently launched a Let Property Campaign. This is part of a focus on individuals that let out residential property and do not declare income tax on the rental profit or capital gains tax when they sell a second property.
HMRC have launched an online tutorial as part of this Let Property campaign. The online modules cover issues such as when property letting is classed as starting from, the various types of property income such as holiday lets, rent a room etc. and how these are taxed.
HMRC will also be contacting around 40,000 landlords to enquiry about their tax affairs.
To see more about the Let Property Campaign, please click here.