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Private landlords evading at least 550 million tax on rental incomes

Buy-to-let and other private landlords are evading over half a billion pounds in tax due on their rental income, new figures reveal. Estimates by HM Revenue & Customs (HMRC) andseen by the investigative website Exaro, reveal that that every year landlords are evading at least £550 million in tax. This compares with £1.8 billion of tax collected on rental income – meaning more than 23 per cent of tax is being evaded. John Whiting, director of tax policy at the Chartered Institute of Taxation, said that the widespread tax evasion by landlords was “very significant” which might normally only be expected in the worst “cash businesses”. “Clearly, rental income is an area where HMRC needs to pay more attention,” he said. “On this scale, it is serious tax evasion.” The figures are for the 2009-10 tax year, the latest available from HMRC for tax paid on rental income and the amount evaded. Click here

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