Home
/
Let Property Campaign

Let Property Campaign accountant

We handle Let Property Campaign (LPC) disclosures for landlords end to end: notification, the rental computations for every year, the behaviour assessment, penalties and interest, submission within the 90-day window, and HMRC's questions through to acceptance. Correct as at 17 August 2026.

What is the situation?

Rental income was never declared, or was under-declared, sometimes for many years. It often starts accidentally: an inherited flat, a property kept after moving in with a partner, a posting abroad. Then an HMRC letter arrives, or a remortgage or sale is coming and the undeclared years block the way. The LPC is HMRC's standing disclosure route for exactly this position, and its mechanics are explained in our guide, the Let Property Campaign explained.

Who qualifies for the Let Property Campaign?

Individual landlords letting residential property, in the UK or abroad. That includes single lets, portfolios, holiday lets, rooms let above the Rent a Room threshold of £7,500 a year (2026/27, gov.uk), inherited properties that were then let, and UK property let by landlords living abroad. It does not cover companies, trusts, or non-residential property such as shops or lock-ups (gov.uk, LPC guidance); those need a different route, which we advise on.

How does an LPC disclosure work?

You notify HMRC first, receiving a disclosure reference number. From the date of the notification acknowledgement you have 90 days to submit the full disclosure and pay what you owe, or to agree payment arrangements with HMRC before submitting (gov.uk, LPC guidance). The disclosure covers rental profits year by year, net of allowable expenses, plus any other undeclared income, with interest calculated daily and a self-assessed penalty. The number of years follows behaviour: broadly 4 years where reasonable care was taken, 6 where there was carelessness, and up to 20 where the failure was deliberate or where you never registered for Self Assessment when the letting income began.

What do we do, in practice?

We reconstruct the letting history from bank statements, agent statements and mortgage records, including where paperwork is missing. We identify every allowable expense, apply losses correctly (rental losses carry forward against future rental profits only), compute the tax, interest and penalty for each year, and take the behaviour judgement on evidence rather than instinct, because it drives both the year count and the penalty rate. We submit the notification and disclosure, handle HMRC's checks, and where paying in full within the window is not realistic we put the payment case to HMRC before submission.

What does it cost to wait?

If HMRC opens an enquiry or compliance check before you notify, the LPC and the certainty of its terms are generally no longer available (gov.uk, LPC guidance). Penalties can then reach 100% of the tax for UK liabilities and 200% where there is an offshore element, and deliberate defaulters can have their details published. Interest runs daily either way. A voluntary disclosure, made before HMRC writes, consistently produces the lower penalty outcome.

Who handles LPC cases?

LPC engagements are led personally by Ghulam Alahi, Managing Director, who has more than 25 years' experience of HMRC enquiry work. The team includes senior managers who work on landlord disclosures and rental computations week in, week out.

Call 020 8554 2135 or email info@visionconsulting.co.uk. If an HMRC letter has arrived, send a copy ahead of the call. First conversations are confidential and at no cost.

Frequently asked questions

Individual landlords with undeclared tax on residential letting income, whether from one property or a portfolio, in the UK or abroad. It covers holiday lets, rooms let above the £7,500 Rent a Room threshold (2026/27), inherited properties that were then let, and UK property let by landlords who live overseas. It does not cover companies, trusts, or non-residential property such as shops, garages or lock-ups. Those cases still need to be disclosed, but through a different route.

It depends on why the tax went unpaid. If you were registered for Self Assessment and took reasonable care, a maximum of 4 years; if you were careless, 6 years; if you acted deliberately, up to 20 years. Critically, if you never told HMRC about the letting income by the 5 October following the end of the first tax year it arose, the failure-to-notify rules can also take the disclosure back up to 20 years. HMRC expects most people to fall in the 6-year category, but the behaviour judgement has to be made on the actual facts.

The penalty is a percentage of the additional tax and depends on behaviour, whether the disclosure was prompted, and the quality of your cooperation. HMRC can charge up to 100% of the tax for UK liabilities and up to 200% where there is an offshore element, but voluntary LPC disclosures normally settle far below the maxima. If you took reasonable care and still underpaid, no penalty may be due at all, though HMRC expects few cases in that category. Interest is charged on top, daily, from each original due date.

Years with a rental loss carry no tax and do not need to be included in the disclosure. The loss itself is not wasted: as a general rule it carries forward and reduces rental profits in later years, but it cannot be set against other income such as salary or dividends. Getting the loss streaming right often reduces the disclosure materially, which is one reason the computations are worth doing properly rather than estimating.

It depends on what the letter is. A nudge letter prompting you to check your affairs does not shut the door, although the disclosure then counts as prompted, which affects the penalty range. If HMRC has notified its intention to open an enquiry or compliance check before you notify, a disclosure under the campaign is unlikely to be accepted, and any disclosure is instead made within that enquiry. That distinction is exactly why timing matters, and why we ask to see the letter before anything else.

Often, yes. A disposal of a UK residential property must be reported and any Capital Gains Tax paid within 60 days of completion, at 18% or 24% depending on your rate band, with a £3,000 annual exempt amount (2026/27, gov.uk). An LPC disclosure must also include any other undeclared liabilities, including capital gains on past disposals. We check the CGT position on every landlord disclosure as standard.

This is general information, not advice. Your position depends on your circumstances. Speak to us before acting.