The Inland revenue is angry that so many private landlords are not declaring their rent income on their tax returns. The tax authority estimates the UK has 1.63 million private landlords and only 500,000 regularly file self-assessment tax returns.
Benefit fraud results in massive fines, jail sentences, exposure on the front page of the popular press. Suspected benefit fraud can leave innocent people stripped of their benefits whilst the DWP investigates, often to discover that they are following lies spread by a malicious neighbor.
Landlords failing to pay tax on their rental income are to be dealt with by offering them discount penalties. And the story doesn’t seem to have got beyond the pages of a landlords trade website.
Read what the landlordsguild has to say here: https://www.landlordsguild.com/hmrc-upset-about-landlord-tax-avoidance-and-offers-easy-payments/