Also in the news...
France: providing services and travelling for business
Guidance for UK businesses on rules for selling services to France.
Living in the USA
Information about moving to, living or retiring in the USA – including visas, working, healthcare and driving.
Trade with Liechtenstein
How you import from and export to Liechtenstein
UK trade with the United States: Impact of tariffs on imports and exports of goods
A closer look at the goods the UK trades with the United States in the context of trade tariffs.
Simplified rates for bringing personal goods into the UK
Find out about the simplified rates of customs and excise duty used when you declare your personal goods online.
Rental Properties under the Microscope
HM Revenue & Customs’ (HMRC) latest campaign is to target property owners suspected of having undeclared rental income.
HMRC has estimated that 1.5 million landlords underpay tax totalling £500m every year and hopes this campaign will recoup a significant amount in unpaid tax. They are putting landlords under the microscope between now and May 2015 - during which time, taxpayers can come forward with a disclosure of their undeclared income from rented properties.
Lower penalties can be negotiated for those who come forward as part of the campaign.
Those who do not come forward can expect higher levels of penalties, should HMRC later catch up with them and, in certain cases, criminal prosecutions are a possibility.
Who are they targeting?
The campaign is open to all residential property landlords – from single rentals to multiple properties - and to specialist landlords, such as student or workforce rentals through to holiday lettings.