Free HMRC Landlord Tax Risk Assessment Checklist

Felix & Co Free HMRC Landlord Tax Risk Assessment Checklist

Free HMRC Landlord Tax Risk Assessment Checklist

Free HMRC Landlord Tax Risk Assessment Checklist

In under five minutes, find out whether your rental property tax affairs might need a closer look — before HMRC asks the question for you. This free checklist from Felix & Co Chartered Accountants covers the five areas that most often lead landlords to a Let Property Campaign disclosure.

Created by Felix & Co Chartered Accountants · UK landlord tax disclosure specialists

Prefer to talk it through first? Speak directly with a Chartered Certified Accountant about your rental property tax position.

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Why a Five-Minute Checklist Is Worth Your Time

Most landlords who end up needing to make a disclosure to HMRC did not set out to under-report rental income. The issue usually develops quietly, over several years, through a property that was inherited, a former home that became a rental, or a simple assumption that a letting agent was handling the tax side of things.

This checklist exists to surface those quiet risk areas before they turn into a bigger problem. It won’t tell you exactly what you owe, and it isn’t a substitute for professional advice — but it will give you a clear, private starting point for deciding whether a fuller review is worthwhile.

What’s Inside the Checklist

The checklist is broken into five short sections, each covering a different area HMRC commonly looks at:

  • Property & Ownership History — inherited property, former homes, jointly owned property, ownership changes
  • Rental Income Reporting — Self Assessment registration, missed years, short lets, cash rent
  • Expenses & Deductions — mortgage interest, repairs versus improvements, record-keeping
  • Overseas & Residency Factors — non-resident landlords, the Non-Resident Landlord Scheme
  • HMRC Contact & Compliance History — previous letters, gaps in filing history

Once you’ve worked through all five sections, the guide explains how to read your results using a simple, plain-English risk indicator.

Who This Checklist Is For

  • Landlords who have never had their rental tax position formally reviewed
  • Anyone who inherited, jointly owns, or previously lived in a property they now let
  • UK landlords living overseas, or non-resident landlords with UK rental property
  • Landlords who use a letting agent and have assumed their tax reporting is handled
  • Anyone who has ever missed a tax year, or is simply unsure whether they’re fully up to date
“I did not deliberately avoid paying tax. I simply did not understand the rules.”

It is one of the most common things we hear from landlords — and exactly the reason this checklist takes a plain, non-judgemental approach to a subject that can otherwise feel intimidating.

What Your Risk Score Actually Means

0 statements ticked Nothing in the checklist points to an obvious risk area, though it’s still worth keeping records up to date as your circumstances change.
1–3 statements ticked One or more areas may be worth a closer look. Many landlords in this position have a straightforward situation once reviewed properly.
4 or more statements ticked Several risk factors apply to your circumstances, and a fuller review of your rental history is generally recommended before deciding on next steps.

This scoring is indicative only, based on patterns we see across real Let Property Campaign cases — not a formal assessment of your individual position.

What to Do Once You’ve Completed the Checklist

Whatever your result, the safest next step is the same: understand the facts before deciding whether action is needed. Start gathering what you can for any property you ticked a box against — rental statements, mortgage certificates, previous tax returns and letting agent records — even if you’re not yet sure a disclosure is required.

If your results suggest a possible issue, HMRC’s Let Property Campaign offers a structured, voluntary route to bring your rental tax affairs up to date, which can lead to a more favourable outcome than waiting for HMRC to make contact first.

Frequently Asked Questions

Is this checklist a substitute for professional advice?

No. It is a self-assessment tool designed to highlight areas worth reviewing. It cannot tell you whether a disclosure is required or calculate any tax, interest or penalties that may apply.

What should I do if I tick several boxes?

It is generally worth arranging a review with a specialist who can look at your specific properties and history in detail, rather than trying to work out the position alone.

Is my information kept private when I complete the checklist?

Yes. Completing the checklist does not involve sharing any information with HMRC or with Felix & Co. It is a private tool for your own use.

How long does the checklist take to complete?

Most landlords complete all five sections in under five minutes.

What happens after I download the checklist?

You’ll receive the checklist instantly by email, along with the option to arrange a free, no-obligation consultation if you’d like help interpreting your results.

Is the checklist really free?

Yes, with no obligation to use Felix & Co’s services afterwards.

Ready to check your position? Complete the short form above to get your free HMRC Landlord Tax Risk Assessment Checklist by email instantly.

Felix & Co Chartered Accountants · Belix House, 19 Raymill Road East, Maidenhead, SL6 8SW · 01895 348 097 · accounts@felixaccountants.com