HM Revenue & Customs (HMRC) investigators are now focusing on property investors. Several hundred property investors received letters from HMRC stating that apparently they have not included their rental income on their tax returns even though they own rental property. The HMRC offered property tax advice to the affected parties to rectify their affairs.
HMRC’s officials stated that continuing profiling activities have been identified. Whether by mistake, misunderstanding of the complex property tax issues, or misinformation there is a considerably high risk of property tax being underpaid by investors. The HRMC insists to collect the right amount of tax and strongly recommended investor to seek property tax help of a property tax consultant.
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