What Is the Let Property Campaign?
The Let Property Campaign is a specific HMRC initiative targeting residential landlords who have not declared their rental income correctly. Whether you let a single buy-to-let property, a room in your home, a holiday let, or a portfolio of properties, this campaign applies if you have undeclared rental income.
HMRC has access to extensive data from the Land Registry, letting agents, and local councils, making it increasingly easy for them to identify landlords who are not declaring rental income.
Who Does It Affect?
The campaign covers all types of residential property lettings, including:
- Buy-to-let properties — single or multiple
- Holiday lets in the UK or abroad
- Rooms in your own home (above the Rent a Room allowance)
- Properties let through platforms such as Airbnb
- Properties owned individually, jointly, or through a trust
How to Make a Disclosure
The Let Property Campaign provides a structured route for landlords to come forward:
- Step 1 — Notify HMRC: Tell HMRC you want to take part in the campaign. You can do this online
- Step 2 — Receive Reference: HMRC issues a disclosure reference number
- Step 3 — Calculate What You Owe: Work out the tax, interest, and penalties for all affected years. You have 90 days from notification
- Step 4 — Submit & Pay: Make your disclosure and pay the amount due
Penalties for Non-Compliance
The advantages of coming forward voluntarily are significant:
- Unprompted disclosure: Penalties can be as low as 0% of the tax due in the best cases
- Prompted disclosure (HMRC contacts you first): Penalties can reach up to 100% or more
- Failure to disclose entirely: HMRC can go back up to 20 years in cases of deliberate non-compliance
With the increasing volume of data available to HMRC from third parties, the risk of being identified without having made a voluntary disclosure is growing.
How GSC Consultancy Tax Can Help
Our team has significant experience assisting landlords with Let Property Campaign disclosures. We handle the calculations, manage the HMRC process, and work to minimise your penalties.
If you have undeclared rental income, do not wait for HMRC to contact you. Speak to GSC Consultancy Tax today in complete confidence.