The let property campaign (LPC) has been running for some 13 years now, It provides individuals who have been letting out residential property in the UK and/or abroad with a streamlined opportunity to bring their UK tax affairs up to date by making a voluntary disclosure via the HMRC online portal.

Provided a full and complete disclosure is made, there is no need to meet HMRC face-to-face nor engage in multiple rounds of correspondence about the facts and records available.

HMRC has confirmed that a total of close to £550m had been secured by the end of 2025/26, through both its LPC and corresponding compliance activities.

The historic records have shown that around 5,000 disclosures were submitted per year up to 2021/22, ie before and around the Covid-19 pandemic period. However, the subsequent annual data shows that the number of LPC disclosures being submitted has increased and in some years by a significant amount.

The LPC remains open for you to utilise if you need it, and there is currently no official closure date. The open-ended nature of the campaign means that it is still a good time to review your activities and ensure taxes on rental profits are correctly calculated, disclosed and paid etc.

Taxes on gains on any disposals of rental properties should also be considered and declared where appropriate. Failure to do so exposes individuals to HMRC’s compliance activities, which bring with them an enquiry framework (not a lenient disclosure facility) and obviously larger penalties…

The LPC provides a relatively smooth process for landlords who owe taxes through having let out residential properties in the UK and abroad. It presents the best opportunity to bring your UK tax affairs up to date in a simple way, especially where they have not deliberately or dishonestly caused tax irregularities.

Do you have a guilty “lettings” secret that you want to disclose? If so, check out the LPC here.