Taxman to match data from other agencies with its own return records
Accountancy Age, 06 Oct 2008
Buy-to-let investors have been warned to keep their information up-to-date, as the government looks to enforce a tax clampdown on the sector.
HM Revenue & Customs is to 'data match' information from local authorities, the Stamp office and letting agents on rental income and property sale revenues with its own tax filing records, The Scotsman reports.
Andrew Addie of Grant Thornton Scotland said that HMRC is taking the buy-to-let market seriously.
'It's crucial to notify HMRC of any new source of taxable income, including rental income, as soon as possible,' he said.
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