Annoyed by you LL? Report to HMR&C.

Guy_Montag

EdInvestor wrote: »

Very routine short report, hardly a scoop. :rolleyes:

HMRC is well aware that most BTL landlords are not evading tax.They can claim mortgage interest against their rental income, so along with other expenses, the net taxable income is usually negligible.

Hardly worth bothering then.:rolleyes:

Even if the net tax is zero, you still need to declare it. Always worth shopping a dodgy LL just to be on the safe side. Tax evasion, like benefit fraud is stealing from us all.

Gorgeous_George

Guy_Montag wrote: »

Hardly worth bothering then.:rolleyes:

Even if the net tax is zero, you still need to declare it. Always worth shopping a dodgy LL just to be on the safe side. Tax evasion, like benefit fraud is stealing from us all.

Fully agree. I shall consider adding the HMRC hotline reference to my AST.

The more LLs that get shopped the better. It will drive up rents and the honest LLs amongst us will reap the benefits.

Far more tax is not paid by other profiteers than by LLs is my guess. And the 'holier than thou brigade' are probably guilty of benefittingh from the odd cash job too.

How about tradesmen who do the odd job for cash? Or shops who don't put everything through the books?

GG

UK007BullDog

So why am I paying taxes then??????? Let me see if there is any way I can find a loophole and not pay!

Anyway this dropped into my mailbox. Seems Nationwide is reminding their customers to declare their BTL income to the TAX MAN. As the tax man has sent out letters to landlords....... http://www.mortgagestrategy.co.uk/cgi-bin/item.cgi?id=159796

Gorgeous_George

UK007BullDog wrote: »

So why am I paying taxes then??????? Let me see if there is any way I can find a loophole and not pay!

With many jobs, it is not possible to take cash and not declare it. Like the one that I'm in.

That's not to say that I wouldn't consider saving a few pounds by getting jobs done for a cash payment. Technically I'd be breaking no laws but is it still theft like benefit fraud.

FWIW, I think benefit fraud is worse because those committing the fraud are stealing money that they have not earned.

GG

real1314

I think the economy loses a lot more to big business and to the current fave - "non-doms".

"amateur" b-2-l's are unlikely to be making anything, as others have said, in fact some people seem to suggest they are losing money AND that they should be shopped to HMRC. Bizarre!

brit1234

penter wrote: »

Inland Revenue convicting BTL landlords

Is this Bruno lurking under the name penter, sorry if it isn't I didn't mean to insult you and take no notice of the further coments.

However if it is i'd like to tell you Bruno/penter i was the one who flagged your youtube account for it vial hate filled videos up to certain human rights/anti semitic groups via email. Youtube banned you the very next day however six months on i see you have a new account and appear to be losing it again.

You need to seek some help. If you realise this PM me I can pass on some useful advice.

MissMoneypenny

Debt_Free_Chick wrote: »

No way of knowing for sure. They could simply have had their mail redirected to their "real" address.

So why would the lender write to the BTLer at their rental address Unless the LL didn't own up to it being a BTL.

clutton_2

i have seen letters from lenders sent to their clients residential address and also their rental property when payments were in arrears.

subjecttocontract

MissMoneypenny wrote: »

Does anyone know the answer to this?

If the LLs contact details on land registry are the same address as their buy-to let, does this mean that their lender doesn't know that the property is rented out?

Not necessarily.

Its a legal requirement for landlords to provide their tenants with an address where notices can be posted.....your landlord MUST provide an address.

MissMoneypenny

Thanks subjecttocontract for the information that LLs should declare any money they took from the deposit, on their tax returrns.

I have just reported the evil landlady that my son had as his first student LL, to the link on this first page. She didn't take money from my son as she knew it would end in court, but seemed to pick her victims. She took all the £150 deposit from another student in the house, because she "had to tidy and clean his room". I admit that it wasn't that tidy, but his parents offered £40, but she kept all £150. Plus £10 each off the other 4 students as she had to wipe out the drawers. The previous students had their deposit kept too, so lets hope the tax fraud man does his job.