Overseas landlords are starting to come forward to admit tax avoidance on their buy-to-let properties to HMRC, according to accountants and business advisors, Moore Stephens.
Over the last year 397 overseas-based buy-to-let landlords admitted to HMRC that they have not been paying the tax on their rental income, up 61 percent on the 246 that came forward in the previous year.
HMRC has been mailshotting thousands of UK landlords as part of its ‘Let Property Campaign’, suggesting it knows that they are not declaring the full tax they owe.
Moore Stephens said that overseas landlords, many of whom are UK expat...