Recognising a risk of non-compliance within the residential rental market, HM Revenue and Customs (HMRC) launched the Let Property Campaign in September 2013 focused on the residential property letting market.
HMRC have collected a range of data relating to the whole landlord population including licensing data. The data is being used to identify landlords who have not reported the rental income they should have to HMRC. The Campaign has encouraged over 26,000 residential landlords to voluntarily come forward and disclose previously unreported rental income and unpaid tax on their rental income. In addition, the Campaign has generated £115m in additional tax, interest and penalties since its launch.