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Buy To Let

HMRC offers landlords online tax training

Lucinda Beeman
Written By:
Lucinda Beeman
Posted:
Updated:
20/05/2014

Landlords are being offered online training from HM Revenue and Customs (HMRC) on when and how they should pay tax.

The “bite-sized” modules, which form part of HMRC’s Let Property campaign, are aimed at people renting out residential property who have not registered to pay tax, have under-declared their earnings or have under-paid tax.

Landlords can learn when and how property lettings start and what to do, how various forms of property letting are taxed, correct treatment of income and expenditure and tips on record keeping and when and how to file tax returns.

Laura Pollard, head of HMRC Campaigns, said: “This package has been developed to help landlords get their tax affairs right from day one. They can also use it to keep them on track in the future.”

The Association of Residential Letting Agents, the National Landlord Association and the Residential Landlord Association will also make the training available to their members.

HMRC has started writing to about 40,000 landlords about their tax. Some 2,500 people renting out property have voluntarily contacted the agency to sort out their affairs.

Pollard added: “Landlords who have failed to register with HMRC, or who have under-declared or under-paid tax, risk being checked by HMRC. If they wait for that to happen, they won’t be able to sort out their tax affairs under the best terms. If they are in any doubt, they should try the training and, if they think they need to bring their tax affairs up to date, they should contact us.”

You can find the tutorials here.