Are you a ‘relevant data-holder’ as far as rent and other payments arising out of land are concerned?

10 October 2016

If you are, you may become subject to a notice under Para 1 Schedule 23 of Finance Act 2011!

What is this all about?

HMRC have issued a template and notes on the completion of that template for data-holders in this regard, as part of their data-gathering powers.

Essentially, if you are…

  • a lessee;
  • an occupier of land;
  • a person having the use of land; or
  • a person who, as agent, manages land or is in receipt of rent or other payments arising from land;

…then, for the purposes of this section of the act, you are a ‘data-holder’.

If you receive a notice under this section of the legislation, you are liable to a fine if you fail to comply with the request under the notice.

Should you have received such a notice and require assistance or would like any advice in the area of rental property then please contact your usual UHY adviser.