Office of Tax Simplification: call for evidence on residential property income: input invited

The Office of Tax Simplification has launched a call for evidence, together with an online survey (tinyurl.com/bdwtj53k), about simplifying the taxation of residential property income received by individuals, partnerships and micro companies.

The review is considering:

• Structural aspects: looking at whether different regimes for taxing property income lead to distortions and other drawbacks.
• Operational: how well the cash and accruals basis is understood, the operation of reliefs and exemptions, and HMRC’s processes and guidance about property income.
• Administration and compliance: the potential for letting agents or platforms to help landlords in easing the administrative burden and to consider any areas of tax administration that present challenges for property income.
• Non-UK aspects: any areas of concern for non-resident landlords or their tenants and issues for UK residents receiving rental income from abroad.

The call for evidence runs to 5 June 2022 and the CIOT will be responding. Please send your comments and thoughts to Kate Willis.

Kate Willis kwillis@ciot.org.uk