Updated October 2026 · Fraser Bond
Tax · Landlords
Undeclared rental income
HMRCdata sharing
Penalties& interest
DisclosureLet Property Campaign
Fixget advice
In short: Rental profits must be reported to HMRC, usually through Self Assessment. HMRC uses data from many sources, including letting agents, deposit schemes and the Land Registry, to find undeclared income. If you haven't declared it, you may owe tax, interest and penalties, which are lower if you come forward voluntarily, for example through HMRC's Let Property Campaign. Overseas landlords must also consider the Non-Resident Landlord Scheme. Take advice from a tax professional. Fraser Bond provides clear annual rent statements for landlords we manage for.
How it works
1
Gather recordsRent received and allowable expenses for each year.
2
Get adviceSpeak to a tax adviser.
3
DiscloseUse HMRC's disclosure route, such as the Let Property Campaign.
4
PayAgree what's owed, including interest.
5
Stay compliantFile Self Assessment each year.
Frequently asked questions
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Will HMRC find out?
HMRC uses data from many sources, so the risk is high.
Are penalties lower if I come forward?
Usually, yes.
Can Fraser Bond help?
We provide statements; take tax advice from a professional.
Want tidy records?
Our management includes clear rent statements.
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