Landlords and their advisers have a new opportunity to influence proposed rules for correcting tax-return errors through a House of Lords inquiry. The House of Lords Finance Bill Sub-Committee launched an inquiry on 18 September 2026 into parts of the Draft Finance Bill 2026–27, including HMRC’s proposals for modernising error correction.
The Sub-Committee is inviting written evidence from taxpayers, advisers, and other interested parties. The deadline for submissions is 5pm BST on 11 October 2026. For landlords, the inquiry seeks practical evidence on how the proposed process would operate within a property business.
HMRC's proposals include an explicit obligation for taxpayers to act on relevant inaccuracies once they become aware of them, provided correction is possible within statutory time limits. Failure to take reasonable corrective steps could lead to an inaccuracy being treated as deliberate, affecting penalties and assessment time limits. The draft legislation also allows HMRC to issue correction notices for suspected inaccuracies, which would require the taxpayer to correct the error, notify HMRC, or explain why the return is accurate.
The inquiry provides a separate opportunity to contribute, following an earlier technical consultation on HMRC's draft provisions that closed on 7 September 2026.