06/10/2022
HMRC increases activity on Virtual Street Sweeps
Virtual Street Sweep is a system used by HMRC to identify individuals and businesses owning more than one property, and consequently identifying if there is a deliberate or accidental investment or rental income not being declared and taxed.
Do you receive income from rents? Did you know this is taxable income and you need to declare it? Self-disclosure often minimises and sometimes even removes penalties HMRC will impose when your name comes up in the virtual sweep.
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