{"id":1538,"date":"2016-10-11T10:00:51","date_gmt":"2016-10-11T10:00:51","guid":{"rendered":"http:\/\/www.bainesjewitt.co.uk\/blog\/?p=1538"},"modified":"2016-10-11T10:00:51","modified_gmt":"2016-10-11T10:00:51","slug":"hmrc-urge-landlords-to-make-tax-disclosures-sooner-rather-than-later","status":"publish","type":"post","link":"https:\/\/www.bainesjewitt.co.uk\/blog\/hmrc-urge-landlords-to-make-tax-disclosures-sooner-rather-than-later\/","title":{"rendered":"HMRC urge landlords to make tax disclosures \u201csooner rather than later\u201d"},"content":{"rendered":"<p>HM Revenue &amp; Customs has urged UK landlords to make full tax disclosures \u201csooner rather than later\u201d.<!--more--><\/p>\n<p>A Government initiative launched in 2013 to settle financial affairs encouraged around 13,000 landlords to disclose unpaid tax.<\/p>\n<p>But HMRC still thinks there are thousands more landlords waiting to come forward. They believe that because most landlords owe only a few hundred pounds in tax, their tax return is often left forgotten.<\/p>\n<p>A spokesperson for HMRC said: \u201cIf you\u2019re a landlord and you have undisclosed income you must tell HMRC about any unpaid tax now. You\u2019ll then have 90 days to calculate and pay what you owe.<\/p>\n<p>\u201cIf you make a full and voluntary disclosure of all unpaid liabilities in these circumstances you can usually expect a lower penalty than HMRC would otherwise seek if they raised an enquiry or compliance check without the disclosure.\u201d<\/p>\n<p>HMRC has not yet proposed a deadline for the scheme, but it has stated that those who delay in disclosing may be subject to higher penalties.<\/p>\n<p>\u201cRegardless of whether the errors were due to misunderstanding the rules or deliberately avoiding paying the right amount it is better to come to HMRC and admit any inaccuracies rather than wait until HMRC uncovers those errors,\u201d the spokesperson said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>HM Revenue &amp; Customs has urged UK landlords to make full tax disclosures \u201csooner rather than later\u201d.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"_links":{"self":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/1538"}],"collection":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=1538"}],"version-history":[{"count":1,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/1538\/revisions"}],"predecessor-version":[{"id":1539,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/1538\/revisions\/1539"}],"wp:attachment":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=1538"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=1538"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=1538"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}