I had years of undeclared property income and felt overwhelmed. Pennyhills provided compassionate, expert guidance through the HMRC Let Property Campaign. They handled everything, bringing me fully compliant and giving me complete peace of mind. I can’t thank them enough.
Case Study
Let Property Campaign
Elijah Moyanah
Industry: Private Landlord, Property Investor
Location: South East London
Resolving Historic Tax Liabilities & Achieving Compliance via HMRC’s Let Property Campaign
The Challenge
Elijah Moyanah, a private landlord with a property portfolio, found himself in a challenging situation regarding his tax affairs. Over a significant period, his income from property rental had not been fully declared for tax purposes. This oversight had accumulated over many years, leading to substantial undeclared income and a growing sense of anxiety about his tax position. Mr. Moyanah recognised the imperative to rectify this and become fully compliant with his Income Tax obligations, but faced the daunting task of navigating complex historic tax liabilities and engaging with HMRC directly for a multi-year disclosure. He needed a discreet, expert partner to guide him through this sensitive process and bring his tax affairs fully up to date.
Pennyhills’ Solution
Pennyhills partnered with Elijah Moyanah to comprehensively address his historic tax liabilities and bring him fully into compliance with HMRC. Our solution leveraged the HMRC’s Let Property Campaign, a strategic initiative designed for landlords to regularise their tax affairs. Our approach involved:
Confidential Assessment & Data Gathering
We initiated the process with a confidential and non-judgmental discussion to understand the full scope of Mr. Moyanah’s property income history and undeclared periods. We meticulously gathered all necessary financial information related to his property portfolio, spanning the entire period of undeclared income.
Strategic Disclosure Preparation
We guided Mr. Moyanah through every step of the HMRC’s Let Property Campaign disclosure process. This included advising on how to calculate the undeclared income and the corresponding tax, interest, and potential penalties, ensuring all figures were accurate and properly presented. We prepared a comprehensive disclosure document, ensuring it met all of HMRC’s specific requirements.
HMRC Liaison & Negotiation
Pennyhills acted as the primary point of contact with HMRC, handling all correspondence and negotiations on Mr. Moyanah’s behalf. We presented his case clearly and professionally, aiming to achieve the most favourable outcome possible under the campaign’s terms.
Future Compliance Planning
Beyond resolving past issues, we established a robust framework for Mr. Moyanah’s ongoing tax compliance, ensuring he understood his current and future obligations for his property income, providing him with long-term peace of mind.
Key Results & Impact
By engaging Pennyhills, Elijah Moyanah successfully navigated a complex and potentially stressful situation, achieving full compliance with HMRC after a significant period. Pennyhills’ expert guidance through the HMRC’s Let Property Campaign resulted in a structured and managed disclosure, bringing his tax affairs completely up to date. This not only resolved his outstanding liabilities but, crucially, provided Mr. Moyanah with immense relief and confidence in his financial standing. He now operates with complete peace of mind, knowing his property income is fully compliant and managed proactively for the future.
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