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Landlords dodging tax?

(6 Posts)
Upwind Mon 30-Jul-07 14:23:17

Heard on the Jeremy Vine show on radio 2 today that

"In 1999 there were around 73,000 buy-to-let mortgages, today there are around 850,000 buy-to-let mortgages but HMRC says that only around 73,000 people are declaring this income"

I guess those parasites will be an easy target! Goes to show that the moral calibre of this country's landlords is not high.

mm22bys Mon 30-Jul-07 15:22:10

A landlord will also have deductions, including interest, and management fees. It is possible that landlords are not declaring rental income because they are in fact incurring a loss.

ChasingSquirrels Mon 30-Jul-07 15:29:43

I expect lots WILL be incurring losses, and hoping for capital gains.

Upwind Mon 30-Jul-07 15:31:53

Don't you still have to declare a loss though? As part of your tax returns for the business?

LIZS Mon 30-Jul-07 16:10:21

Professional landlords may own multiple properties, although probably not 10 each admittedly, and net income may not exceed the tax threshold so no tax return required.

islandofsodor Mon 30-Jul-07 20:51:32

If the house is in the name of a non taxpayer and the income is less than their annual tax allowance you don't have to fill in a self assesment.

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