{"id":1315,"date":"2014-07-21T11:53:27","date_gmt":"2014-07-21T11:53:27","guid":{"rendered":"http:\/\/www.propertyportfoliosoftware.co.uk\/blog\/?p=1315"},"modified":"2014-07-21T11:53:27","modified_gmt":"2014-07-21T11:53:27","slug":"landlords-under-the-hmrc-spotlight","status":"publish","type":"post","link":"https:\/\/www.propertyportfoliosoftware.co.uk\/blog\/landlords-under-the-hmrc-spotlight.html","title":{"rendered":"Landlords under the HMRC Spotlight"},"content":{"rendered":"<p>Despite the fact there are believed to be an estimated 1.4 million landlords in<br \/>\nthe UK at the current time, only 500,000 have contacted <a href=\"http:\/\/www.propertyportfoliosoftware.co.uk\/video.landlord_tax_calculator.html#watch-demo-anchor\">HM Revenue &amp; Customs<\/a> to<br \/>\nregister their income. Many of the landlords own second homes or holiday homes,<br \/>\nwhich they let out to generate some extra income, but this doesn\u2019t excuse them<br \/>\nfrom paying tax on their profits.<\/p>\n<p><strong>HMRC Targeting UK Landlords<\/strong><br \/>\nUK accountancy firms are warning landlords that HMRC is targeting them. The<br \/>\ngovernment is concerned about the estimated \u00a3550 million in unpaid tax and is<br \/>\ntrying to do everything in its powers to recoup the money. Landlords who have<br \/>\nfailed to register with HMRC face being investigated and fined if it is found<br \/>\nthat they have unpaid tax.<\/p>\n<p>Many buy to let properties have been bought in the recent property boom and<br \/>\nalthough first time buyers are finding it hard to secure funds, older buyers and<br \/>\nthose with a large deposit have had very little problem. Landlords purchasing a<br \/>\nproperty with a buy-to-let mortgage only have to provide a decent deposit and<br \/>\nshow that they can afford the repayments based on the estimated rental income of<br \/>\nthe property.<\/p>\n<p><strong>Bank of England to Look at Buy To Let Lending<\/strong><br \/>\nHowever, the Council of Mortgage Lenders is warning that <a href=\"http:\/\/www.propertyportfoliosoftware.co.uk\/video.create_mortgage_loan.html#watch-demo-anchor\">landlord mortgages<\/a><br \/>\ncould soon be coming under the scrutiny of the Bank of England. There are also<br \/>\ntough new EU rules coming into effect soon, which will also affect buy-to-let<br \/>\nlending, so landlords may soon find it a lot harder to secure funding.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Despite the fact there are believed to be an estimated 1.4 million landlords in the UK at the current time, only 500,000 have contacted HM Revenue &amp; Customs to register their income. Many of the landlords own second homes or &hellip; <a href=\"https:\/\/www.propertyportfoliosoftware.co.uk\/blog\/landlords-under-the-hmrc-spotlight.html\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1315","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.propertyportfoliosoftware.co.uk\/blog\/wp-json\/wp\/v2\/posts\/1315","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.propertyportfoliosoftware.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.propertyportfoliosoftware.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.propertyportfoliosoftware.co.uk\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.propertyportfoliosoftware.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=1315"}],"version-history":[{"count":2,"href":"https:\/\/www.propertyportfoliosoftware.co.uk\/blog\/wp-json\/wp\/v2\/posts\/1315\/revisions"}],"predecessor-version":[{"id":1317,"href":"https:\/\/www.propertyportfoliosoftware.co.uk\/blog\/wp-json\/wp\/v2\/posts\/1315\/revisions\/1317"}],"wp:attachment":[{"href":"https:\/\/www.propertyportfoliosoftware.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=1315"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.propertyportfoliosoftware.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=1315"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.propertyportfoliosoftware.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=1315"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}