An Amnesty type of campaign that is still available to all is the HM Revenue and Customs (HMRC) Let Property Campaign
Those that are not paying the correct amount still have time to put that right at a considerable saving in penalty charges
The Let Property Campaign is an opportunity for landlords who owe tax through letting out residential property, in the UK or abroad, to get up to date with their tax affairs in a simple, straightforward way and take advantage of the best possible terms. Make a voluntary disclosure of the rental income through an experienced adviser and not only save but sleep at night
If you’re a landlord who has undisclosed income you must tell HMRC about any unpaid tax now. You will then have 3 months to calculate and pay what you owe.
I have been involved in declaring many many such cases for clients’ from Edinburgh to Plymouth and all have been accepted by HMRC without question.
It’s a process that benefits the honest in terms of cost and speed and one which may not last forever — so make that Voluntary disclosure before HMRC have to prompt you and costs go literally through the roof !