HMRC targeting landlords with buy-to-let companies

Posted: 23/11/2023


HMRC has launched its latest campaign on landlords with properties held in incorporated businesses. In particular, HMRC are looking for landlords that incorporated their buy-to-let businesses but declared no personal capital gains tax (CGT) which may be due on property transfers. In such cases, the transfer will come under CGT rules as a landlord effectively sells his or her property to the limited company, regardless of whether or not they own that company. Such capital "disposals" must be declared via self-assessment. Landlords who are now directors in their own company must also declare that information on their self-assessment return, along with any salary and of course, dividends. There is no escape from the taxman!

 Key One Property help landlords make their tax easier by providing full financial year statements. 

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