Currently viewing the tag: "self assessment"

HMRC Target Tax Dodging LandlordsHer Majesties Revenue and Customs (HMRC) estimate that more than 30% of UK private rental sector landlords are evading paying any tax on their rental income at a cost of £550 Million (GBP) to British taxpayers.

HMRC reckon that approximately 1 million PRS landlords failed to declare any revenue from their UK rental properties in the past tax year, compared with 1.9 million PRS landlords who paid over 1.8 Billion (GBP) in tax on their rental incomes over the same time frame.

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Tax Year Deadline is 31st January 2013

Tax Return Deadline Looms For LandlordsDespite all the awareness campaigns and TV advertising, Her Majesties Revenue & Customs (HMRC) repeatedly attempt to tell us that completing a self assessment tax return doesn’t have to be taxing!

However, as anyone who has ever completed a self assessment tax return will tell you, the evaluation of personal income for the tax year and the amount of time needed to complete a self-assessment form, either on paper or online can be very considerable.

When managing a single property or declaring a growing rental property portfolio, it can be hard work to set aside the time needed to tick all the right boxes.

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