Landlords in the Peterborough area targeted in clamp down by HMRC20th June 2012

Landlords in East Anglia are on HMRC’s hit list in a crack down on tax evasion.

The warning comes after the tax office’s success in similar campaigns, which has helped collect an additional £50 million of unpaid taxes and looks set to launch a number of criminal investigations.

Peterborough accountants Rawlinsons are now alerting those operating buy-to-let properties in the area to ensure they are fully compliant to avoid falling foul of the ongoing campaign.

“Those landlords who operate within the law have no need for concern,” said Rawlinsons’ partner Ken Craig. “HMRC inspectors will be looking for those landlords who deliberately flout the law to avoid paying tax.”

HMRC is specifically targeting sectors and industries perceived to represent a risk to the UK tax base. Coming under scrutiny in this raft of inspections are London markets, taxi firms in Yorkshire and the East Midlands, restaurants in the Midlands and property rentals in East Anglia, London, Yorkshire and the North East.

Ken said: “HMRC has the power to turn up unannounced on business premises and demand to inspect books, records and equipment. This can be traumatic for business owners but being prepared for any investigations can help.”