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bumpy

Landlord Tax Avoidance

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Only 500,000 landlords declare income from renting out or capital gains from selling.

The reality is, there are 1.5m landlords in the UK, so some are in for a shock in the future.

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Yes, an important distinction.

The finances of the BTL sector should in theory provide rich pickings for HMRC, should they choose to look seriously. Plenty of archived listings on websites, use of letting agents etc.

I'd have agents' responsible for registering the addresses of let property with HMRC, need not be an onerous burden, and commissions earned from letting residences on behalf of proven tax evaders reclaimable as proceeds of crime.

But, given the Tories couldn't care less if a basic tenancy from a High St agent is legal or not I suspect that the chances of this being done are two thirds of nowt.

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Yes, an important distinction.

The finances of the BTL sector should in theory provide rich pickings for HMRC, should they choose to look seriously. Plenty of archived listings on websites, use of letting agents etc.

I'd have agents' responsible for registering the addresses of let property with HMRC, need not be an onerous burden, and commissions earned from letting residences on behalf of proven tax evaders reclaimable as proceeds of crime.

But, given the Tories couldn't care less if a basic tenancy from a High St agent is legal or not I suspect that the chances of this being done are two thirds of nowt.

The mechanism already exists for non-resident landlords such as me. The agency deducts basic rate income tax at source unless you have a letter from the taxman saying you can receive your rent "gross". They could extend this scheme easily to all landlords.

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If every tenant notified HMRC of the name and address of their landlord then, according to the figures, two out of every three tenants would hit the jackpot

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Everyone on here seems to hate their landlord. Is this not a perfect way to get your own back?

My landlord is great, treats me like a valued customer. Anything that needs doing gets done promptly, if I can't contact him I get it done and he reimburses me, what more could you want.

As far as I'm concerned, his status with HMRC is his business.

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My landlord is great, treats me like a valued customer. Anything that needs doing gets done promptly, if I can't contact him I get it done and he reimburses me, what more could you want.

As far as I'm concerned, his status with HMRC is his business.

So did I misunderstand when people were sniping at landlords?

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.But, given the Tories couldn't care less if a basic tenancy from a High St agent is legal or not I suspect that the chances of this being done are two thirds of nowt.

Did Labour ever give a toss, either?

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Did Labour ever give a toss, either?

No, they did not although I wasn't making a party political point, more that there was a recent debate in Parliament which was filibustered. I think it is fair game to take the current administration to task for the failure to rectify glaring problems evident in previous parliaments though. BTL has increased meaningfully over the course of this Parliament, specifically encouraged by the current Govt via their inclusion of BTL in the business finance streams of the 'Funding for Lending' scheme. That has had a very material impact on my quality of life, forcing me to move home once already, not cool with a 13 month old and a wife with a stressful job.

The Tories have done absolutely nothing to rectify existing (pre-2010) issues, and even worse have made them worse. The Tories are, in my view, commensurate with something you might scrape from your shoe. I might add that I have never voted Labour, and I would describe myself as a small 'c' conservative. And yet I wouldn't touch the Tories with yours.

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