Landlords including holiday letting owners are under scrutiny because the revenue estimates that £500m is lost every year through underpayment of tax on rental income and undeclared capital gains tax on second properties.
Last year HMRC said that 40,000 landlords were suspected of breaking the rules. HMRC has continued to urge property landlords and holiday letting owners to bring their affairs up to date or risk a tax investigation.
So what should you do if the taxman knocks? To read the full article click here