HMRC target non-resident corporate landlords…
HMRC have started sending letters to non-resident corporate landlords owning commercial property in the UK that have not previously filed tax returns.
HMRC suspect that these companies are likely to be in receipt of rental income (or possibly business profits attributable to a permanent establishment) that have not previously been disclosed.
As part of the mailing, the company’s directors will be asked to self-certify that the company’s UK tax affairs are up-to-date or, if appropriate, disclose the company’s previously undeclared income.
We highly recommend that directors take this opportunity to reconsider the company’s UK tax exposure particularly if they receive any UK sourced income or use the UK commercial property as a base for business operations.