Let property campaign penalties rates

Any success stories?

Didn't find your answer?

I just wondered have many people carried out and let property campaign submissions and if so what penalty rates did you manage to get HMRC to agree to?

I know there is a way to calculate them depending on the type of behaviour and if the tax is over 12 months late and also a reduction for the quality of disclosure. 

Obviously each case is different but it seems the penalty rates are still quite high for someone who was non-deliberate, unprompted and discloses over 3 years late. 

I have had HMRC agree to a penalty of 23% in the past (I didn't want to push it too much) however this still seems really high and I feel I should try and get this lower.  Is it best to start low and see if HMRC accept it.  I assume if they reject it then its negotiable with HMRC?

Replies (6)

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By ireallyshouldknowthisbut
30th Jul 2020 09:50

If its only 3 years, 0% 18/19 (just file a return) 10% 17/18 for unprompted

Not sure what you are doing with 23%. Hope you have good PI insurance if your client reads this.

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By Justin Bryant
30th Jul 2020 10:03

Not only that, HMRC are so inexplicably accommodating with BTL tax fraudsters I'm surprised they don't actually pay them reward money for handing themselves in!

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Replying to Justin Bryant:
By ireallyshouldknowthisbut
30th Jul 2020 10:31

You know I hate to agree with you Justin, but they really do roll over for a tummy tickle on this.

The oddest thing is if you get caught they often only ask to go back 5 years which is bizarre.

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Replying to Justin Bryant:
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By Jdopus
30th Jul 2020 11:43

I suppose that's what happens when the majority of parliament are BTL landlords.

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By Cat's whiskers
30th Jul 2020 09:58

Just looked back at one I submitted last year and I got 10% agreed with HMRC. Unprompted, non deliberate disclosure for 5 years worth of rental income.

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Quack
By Constantly Confused
30th Jul 2020 10:41

It's been many many moons since I last did one, but I'm pretty sure the penalty never exceeded 10% for me either.

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