Chartered Accountants
Corporate Tax Specialists

Let Property Campaign

Declare Undisclosed Property Income Confidently

The Complete Solution

Most landlords do not deliberately decide to ignore tax. What usually happens is slower than that. A property gets rented temporarily after a move. Mortgage interest rules change. Records become inconsistent. A return is submitted once, then missed later. Expenses are estimated instead of tracked.

Throughout that time, the landlord often still believes the situation is manageable. Then the HMRC letter arrives — not aggressive, not accusatory, but enough to make the situation suddenly feel real. At Taxaccolega, we help landlords across London and the UK deal with HMRC Let Property Campaign disclosures properly, especially where undeclared rental income, historic reporting gaps, overseas ownership, capital gains exposure, or incomplete records have already built up over several years.

Our Strategic Approach

We work closely with you to examine transaction histories, map corporate/personal bands, reconstruct details, and generate standard compliance packets that satisfy HMRC guidelines.

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CRITICAL CONSIDERATION

HMRC Let Property Campaign - What It Actually Is

An opportunity to correct historic rental tax errors before HMRC discovers them.

The Let Property Campaign is a dedicated HMRC disclosure facility designed for landlords who need to correct previously undeclared or incorrectly reported rental income. In practice, the campaign applies to far more situations than most landlords initially realise.

  • Landlords who never declared rental income at all
  • Landlords who declared parts of their rental income incorrectly
  • Property owners who missed tax filings entirely for several years
  • Misunderstanding allowable mortgage interest relief and expenses
  • Failing to report overseas rental property income in the UK
  • Incorrectly splitting property income between spouses or family members

The issue is not always deliberate concealment. Very often, the reporting structure simply became inconsistent over time. That is why HMRC Let Property Campaign disclosures frequently overlap with self assessment corrections, income tax liabilities, capital gains tax exposure, non-UK resident taxation, bookkeeping failures, and historic record reconstruction.

Property Income & HMRC Compliance

Property income rarely stays simple, and delaying disclosure quietly increases risk over time.

Property Income Growth

At the beginning, owning one property feels straightforward. But once multiple units, overseas portfolios, or company structures are introduced, calculations become complex.

HMRC Enforcement

HMRC uses massive digital databases (such as land registry and letting agent records) to match property owners against reported self-assessment income.

Strategic Disclosure

Making a voluntary disclosure allows you to control the narrative, benefit from significantly lower penalties, and set up manageable payment arrangements.

Common Questions

Frequently Asked Questions

The Let Property Campaign is an ongoing disclosure opportunity offered by HMRC. It allows residential landlords with undisclosed rental income to voluntarily bring their tax affairs up to date under highly favorable penalty terms.

It is open to individual residential landlords letting out properties in the UK or abroad. This includes single-property landlords, multi-property portfolios, student lets, holiday lets, and those letting out inherited property.

Depending on the behaviour (careless, deliberate, or reasonable excuse), HMRC can go back up to 20 years to calculate tax liabilities, interest, and penalties.

If you make a voluntary, unprompted disclosure, penalties are usually significantly lower than if HMRC finds out first. Penalties can range from 0% to 20% of the unpaid tax, depending on whether it was a careless error or a reasonable excuse.

Once HMRC contacts you, any disclosure you make is classed as "prompted," which carries higher penalty rates. However, it is still critical to respond professionally and make a structured disclosure to avoid formal audits or prosecution.

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