What is the Let Property Campaign?
The Let Property Campaign (LPC) is an HMRC disclosure facility that allows landlords with previously undeclared income from residential property, either in the UK or overseas, to come forward and bring their tax affairs up to date.
The LPC was first launched in 2013 and was intended to last only 18 months. However, due to its continued success – reports suggest a yield of £107 million in 2024/2025 alone – it remains open, with no sign of an end date.
Why has the LPC been so successful?
HMRC receives information about landlords from a number of sources including.
- Letting agents.
- Land Registry.
- Landlord registry.
- Council tax records.
- Mortgage applications.
- Tip-offs, usually from disgruntled ex-tenants or ex-spouses/partners.
If the information HMRC receives does not match the individual’s tax records, a ‘nudge’ letter will usually be sent to the landlord inviting them to come forward and make a disclosure using the LPC. Recipients of these letters should therefore be aware that they are based on data that HMRC has received from (in the vast majority of cases) reliable and accurate sources.
However, landlords with undeclared rental income should not wait to hear from HMRC before coming forward and making a disclosure, as unprompted disclosures carry a significantly lower financial penalty than those that are prompted by HMRC.
Why should landlords us the LPC?
While there are no beneficial terms to encourage individuals to use the LPC (it does not offer immunity from prosecution, or a reduction in number of years that need to be disclosed, or any reduced penalties) if managed correctly, it can be a sensible and fairly pain-free disclosure mechanism. The LPC enables individuals to sort out historic tax issues, draw a line under past non-compliance and move on.
It should be pointed out that although anyone using the LPC must have undeclared income from residential property to gain entry to the process, any other undeclared income or gains can and indeed must be included in the final disclosure.
How can Crowe Help?
Crowe’s Tax Disputes and Investigations team are vastly experienced in handling LPC disclosures and supporting landlords through the disclosure process, so please contact us for further assistance.