Tax man is comming after landlords.

CLAPTON

Graham_Devon wrote: »

There are many many what are classed as "accidental landlords".

This definition seems to cover those who didn't wish to sell for a "lower price" over the last few years and those who don't see themselves running a business, but simply using the tools available to them to get a bigger house.

The housing and renting board has been littered with both these landlords and the tenants of said landlords. Some of them go down the route of renting out their properties and only coming to this forum in particular to answer questions when they get stuck.

If they don't know about gas safety certificates, and many, it appears, don't, then it's likely they won't know the full tax issues. They may even be paying more than they are required.

But certainly, even on the sub forum on here, many have had it pointed out to them that they are not even legal landlords, running a business on a residential mortgage. It goes without saying that if this is the case, it's highly likely huge swathes of this group are not paying the correct taxes. Some don't even see themselves as running a business, let alone paying taxes on it.

Heres just one thread highlighting the issue:
https://forums.moneysavingexpert.com/discussion/4917130

very true

but they are unlikely to have a great deal of tax to pay

although that's no reason why they should pay what is due, they probably aren't at the top of the hit list