More HMRC powers - let property
We understand that HMRC is seeking to extend its powers to collect more information from letting agents. Currently it can ask them to disclose landlords from whom they currently collect rent. It seems that HMRC want to ask for details from agencies that have just introduced a tenant to a landlord for a fee in the past.
I cannot but feel that will mean a lot of work for the agencies for a minimal return, as HMRC seem to be too busy to do anything sensible with the information they obtain.
Cathy Corns is a tax adviser and a partner at Mercer & Hole. The views given in this blog are personal to the author.
Date: 3rd August, 2009
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