HMRC pay out £500k to tax whistle blowers

Posted: 24/8/2023


HMRC paid out £509.000 in the last financial year to individuals providing evidence of tax fraud. That includes information about property investors and landlords who were not declaring their income or otherwise "not paying the right amount of tax", as HMRC put it. That figure is up 75% from five years ago. In the US, the IRS actually pay a percentage of the evaded tax collected. It can be as much as 30%, which provides significant incentives to whistle blowers. HMRC are continuing to target landlords, recently writing to a large number of non-resident landlords giving them forty days to get their house in order (excuse the pun) and declare any unpaid revenue. Within the letter they warned the property owners "if you have not told is everything we will take it very seriously". That means potential penalties, interest and prosecution in some cases. 

If you are a landord and struggle to make your tax return, we can help you here at Key One Property by providing a full financial year's statement on any managed property. The cost of this? Nothing. It is all included in our service which is just 5% inc VAT*.

*management service 5% per month subject to min fee, t&cs. 

Back to News

 Click here for a competitive quote for Landlords Insurance  property-ombudsman NI Tourism Certified Accommodation to Rent