Received a letter from HMRC or aware of the need to disclose your rental property income? Let Pearson McKinsey simplify the process by leveraging our expertise to minimize your tax liability, interest, and penalties.
Let Property Campaign
Understanding the HMRC Let Property Campaign
This initiative aims to recover lost tax revenues from landlords who haven’t disclosed rental income. HMRC utilizes more effective measures to identify non-compliant landlords, potentially leading to repayment of owed tax, along with interest and penalties.
Act Promptly to Avoid Increased Penalties
If you’ve received an HMRC letter, swift action is crucial to prevent heightened penalties and potential criminal proceedings. Even without a letter, consider a let property disclosure for reduced interest and penalties.

Our Let Property Campaign Disclosure Service
Comprehensive Fact-Finding
We engage in detailed conversations about your circumstances, ensuring you grasp the disclosure process and its financial implications. Our discussions focus on the rental income years in question, identifying possible expenses or reliefs to minimize your tax liability.
Liability Analysis
Our qualified accountants conduct a thorough tax review for each undeclared income year, calculating owed tax, interest, and penalties. We discuss the total amount and flexible payment options tailored to your needs.
Seamless Disclosure Process
With your permission, we facilitate a full disclosure to HMRC under the Let Property Campaign. We assist in negotiating payment terms and manage communications with HMRC, handling subsequent inquiries. Additionally, we provide advice on ensuring future compliance.
HOW IS THE BILL CALCULATED?
Determining your total bill involves calculating the tax owed for each year of undeclared income, adding annual interest (currently 3%/Year), and incorporating financial penalties.
Calculating Tax Owed To compute the tax owed, assess the profit/loss from each rental property, enabling you to claim specific expenses and reliefs that mitigate your tax liability.
Interest Application The calculated tax is then subject to annual interest for the duration you owed the tax, at a rate of 3% per year.
Penalties under Let Property Campaign Penalties vary based on your disclosure circumstances, considering factors such as receiving an HMRC letter and adherence to time limits. The following percentage rates provide a general overview:
Type of Behaviour | Unprompted | Prompted |
Reasonable care | No Penalty | No Penalty |
Careless non-disclosure of income on your tax return | 0-30% | 15 – 30% |
Deliberate under-disclosure of income on your tax return | 20-70% | 35 – 70% |
Deliberate non-disclosure of income on your tax return | 30-100% | 50 – 100% |
Unleash Your Financial Potential:
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