Jennifer Adams considers whether the ‘Let property campaign’ has been a success for HMRC and asks whether it will still be around ten years from now.
Think back to 2013; David Cameron was still Prime Minister, HMV had collapsed, Andy Murray won Wimbledon, and HMRC announced the start of the let property campaign (LPC).
Ten years on, and the LPC is the only one of the original 18 tax campaigns remaining. Introduced in 2007, each tax campaign targeted a specific taxpayer group or type of taxable activity and were designed to give taxpayers the opportunity to declare income not previously declared, bringing their tax affairs up to date on advantageous terms – no questions asked.
The campaigns were intended to be ‘one-off’ lasting around 18 months. However, HMRC obviously believes the LPC has further to go, and it remains in place a decade later.
