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A property landlord who failed to declare Capital Gains Tax from the sale of properties evading £157,725 has been jailed for two years and three months. An investigation by HMRC revealed that between 2006 and 2013, the landlord did not declare profit gained from selling properties.
Capital gains tax is an area where HMRC are clamping down and now have the technology to find missing landlords. It is always best to contact HMRC before they catch you as the penalty will be much less or even nil if you declare first.