Buy to Let Investors Facing Clampdown
According to The Times, thousands of buy-to-let owners could face tax bills from up to six years ago.According to the source, HM Revenue & Customs is implementing a crackdown on unpaid duty and excess mortgage relief and has identified 80,000 landlords who have claimed too much tax relief or have failed to declare rent and capital gains.
The tax office is able to claim unpaid taxes from six years ago with fines equal to the amount owed plus interest.
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