Helping landlords declare unpaid tax on previous years
An individual landlord is entitled to a £1,000 property allowance and so rental income up to this amount is not taxable and does not need to be declared to HM Revenue & Customs (HMRC).
Landlords with rental profits between £1,000 to £2,500 should contact HMRC directly as it may be possible for the tax owed to be collected via the PAYE system.
Landlords with rental income over £10,000 or rental profits over £2,500 have to complete an annual Tax Return.
We understand that there will be occasions when landlords forget to declare tax or perhaps were not aware that tax needed to be paid.
Are you a landlord in need of tax advice? MGI Midgley Snelling LLP can assist.
Thankfully there is a facility offered by HM Revenue & Customs that provides an opportunity for landlords who owe tax on residential property, whether in the UK or abroad, to get up to date with their tax affairs under the best possible terms.
Known as the Let Property Campaign, this scheme provides you with the ability to disclose income and settle any unpaid tax quickly and easily.
Do you have undisclosed property income to declare?
We can help you go through previous tax years and ensure that the tax you owed is then declared to HM Revenue & Customs (HMRC).
Our expert team of tax professionals will also do their best to ensure that any penalties faced for late payment are mitigated.
If you would like to know more about our landlord tax declaration service, please contact us.
Meet the team:
The Senior team
John Brassington
John is based in our Tax department where he specialises in providing tax advice and planning for personal tax clients and ensuring all personal tax compliance requirements are met. With his many years of experience John is in an ideal position to advise our clients on the tax implications of their affairs, offering tax planning opportunities to structure their tax more efficiently.
John ‘s experience stretches across many of the direct tax areas and he is involved in helping clients with not only their personal tax, but also with partnerships, corporate and trust tax needs.
With the ever changing tax legislation John has found that his in depth knowledge of his clients helps him be a trusted reference point in their tax affairs.
Away from the office, John is willing to watch almost any sport, although he says his days of actually taking part in sporting activities are long behind him.
Partner
James Clerkin
James began his tax career in 1999, having attained a degree in History at UCL and post-graduate diplomas in Law and Legal Practice at the College of Law. He has built up extensive tax knowledge in a variety of areas, including corporate tax structuring and planning, business acquisitions and disposals, HM Revenue enquiries and disclosures, capital tax planning, de-enveloping UK residential property, tax on separation and divorce and Stamp Duty Land Tax reliefs.
He has developed a particular interest in the taxation of UK resident non-UK domiciled individuals, advising clients on pre-UK arrival tax planning and tax-saving opportunities such as Temporary Workplace Relief, Overseas Workday Relief, Business Investment Relief and the judicious use of Trusts as well as the UK’s various anti-tax avoidance rules.
He has 25 years tax experience, much of which has involved advising international clients with complex tax affairs, at both personal and corporate levels. His work includes pre-UK arrival tax planning for non-UK domiciled individuals immigrating to the UK, utilising tax reliefs, setting up tax efficient trust structures and corporate restructuring. He also advises clients leaving the UK, particularly in relation to the Statutory Residence Test and the Temporary Non-Residence Rules. Much of our wok originates from the MGI network, which greatly enhances our international tax offering.
Outside of work, James still enjoys the occasional game of football but these days mainly enjoys watching his children participate in athletics, cricket, rugby and football.
