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It's not particularly badly setup, if you gain money from renting out property you declare it in your self-assessment and then the tax is worked out (in uk at least), anything else is tax evasion.
laner-
I have no interest in anything accounts/tax based. I can't be bothered to do a single thing. It bores me too much. I've been owed money before but haven't been bothered to claim it, so it's a two way street. Life's too short to spend one second doing paper work. Colour me a tax evader, but that's just like, your opinion man.
chrisbmx116
I'd say go for it. Rent your place out to cover your mortgage, don't bother declaring it as income, paper works not worth it. I'm usually pretty honest with stuff and dead into paying my taxes but if things are set up badly and a big hassle I'd bin em off. It's rarely checked up on.