Let property campaign and voluntary disclosures to HMRC ― making the disclosure

Produced by a Tolley Owner-Managed Businesses expert

Owner-Managed Businesses

Guidance

STOP PRESS: The remittance basis is abolished from 6 April 2025, although this only applies to foreign income and gains arising on or after that date. The remittance basis rules still apply to unremitted income and gains arising before that date but remitted later. The legislation is included in FA 2025. For more details, see the Abolition of the remittance basis from 2025/26 guidance note.

Introduction

Campaigns are targeted disclosure opportunities for selected groups of individuals, traders and professionals to make declarations of any undeclared income and / or over-claimed expenses. HMRC charges financial penalties on disclosures that give rise to additional tax.

HMRC began introducing campaigns in 2010. Early campaigns included medical professionals, plumbers, internet traders, landlords, employees with a second source of income, credit card sales and individuals who have sold properties that are not their main residence. For a list of the previous campaigns run by HMRC, see the GOV.UK website (archived). Often HMRC offered beneficial penalty terms to encourage uptake. Where individuals that

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