Extra 3% Stamp Duty ?

letitbe90

AnotherJoe wrote: »

It doesn't work that way where they immediately start looking at what you declared . It's like what they do for Ebay, Big Data systems that trawl though numerous sources of public data looking for matches and inconsistencies. .
Let's say that finds you advertising a holiday let in Majorca with no record of corresponding foreign income tax entries on your HMRC record. At that point some more detailed searches will take place to winnow down what's going on. Look also for any associated data such as s recent SDLT payments. And only then will a person look at it.
Odds are high if you don't let it out

I have quite a bit of background dev work in data warehouses and I would bet my (future) mortgage that HMRC do not have anything even half as sophisticated as that (heck most private companies don't) - any checks they do would be very manual and labour intensive.

lewisa

Have you ever included either rental income or expenses on a tax return in relation to your overseas hideout?

Albala

HMRC only have to be lucky once, though. Someone trying to avoid paying what they should has to be lucky for ever, into the future when IT becomes even more intrusive (it will) and even after any second property is sold, and be sure to make no enemies and fall out with no relatives who may shop them, and not to tell anyone anything which they may innocently repeat to someone else, who innocently mentions it to....


IMO honesty is always the simplest and best way, quite apart from the honesty aspect!