Landlords face HMRC probe

Concerns over the boom in buy-to-let mortgages could result in a crackdown on landlords and second home owners. As many as 900,000 property owners could be probed by HMRC over claims they have not declared profits they have made. Although there are an estimated 1.4m landlords in the UK, only around 500,000 have registered with HMRC. Accountancy firms have reported that landlords are being targeted and estimate the Government is owed £550m a year in unpaid tax on the profit from renting homes out. The BoE recently stated it would be looking closely at buy-to-let mortgages.
Source: The Independent (19/07/2014)