TaxPersonal TaxTaxman furious over buy-to-let row

Taxman furious over buy-to-let row

Buy-to-let landlords will receive leaflets about how much mortgage interest they can offset against their tax bills, Accountancy Age has learnt

Senior sources at HM
Revenue & Customs
said that the likeliest outcome of the discussions
over buy-to-let tax issues will not be a crackdown as widely predicted, but
merely an information campaign.

The taxman is furious that a meeting held with practitioners to try and focus
the attempts to improve compliance has been exploited for media coverage.

‘It was totally overblown. There’s a lot of anger,’ one source at the
department said. ‘The accountancy profession had lambasted us for not consulting
in the past. The story is we are sending leaflets out to landlords explaining
their responsibilities.’

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