A new advertising campaign by HM Revenue & Customs (HMRC) advises landlords who let a room in their home or run a rental business, of the need to declare their earnings and pay tax on any profit.
Landlords who let multiple properties could be considered to be running a rental business. They should go to the HMRC website at http://www.hmrc.gov.uk/findout and click on the box that says 'landlords' to check if they are liable for tax. If they are, they should contact HMRC for a self assessment and a land and property form, or register as self-employed by calling the Self-Employed helpline.
HMRC's Director of Risk & Intelligence, Stuart Hartlib said: "The guidelines and advice on the website are not complicated, and information is just a click away. If landlords are self-employed they can download a form online, or call the Self-Employed helpline. Landlords should register with HMRC within the first three months of starting up a new business."
