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.