HMRC launches crackdown on buy to let landlords
HM Revenue & Customs has launched a crackdown on the buy to let market, doubling its efforts to track down amateur landlords who are not paying tax on earnings from their second property.
This week, HMRC sent hundreds of letters to individuals who it believes may not have declared their buy to let properties on their tax return.
A spokesman for HMRC said 500 letters were being sent out initially, after which an evaluation would be carried out before any further action is taken.
The buy to let market has slowed down in recent months, as the credit crunch has made mortgages harder to come by and falling house prices have discouraged some investors from entering the market.
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