
ACCOTAX - Accountants & Tax Consultants
Welcome to ACCOTAX, a firm of Chartered Accountants in London. The firm was established in 2009 and has helped thousands of businesses and individuals...See More

ACCOTAX - Accountants & Tax Consultants
Welcome to ACCOTAX, a firm of Chartered Accountants in London. The firm was established in 2009 and has helped thousands of businesses and individuals...See More
Frequently asked questions
What specific tax advice do accountants for landlords provide?
Accountants for landlords provide tailored advice on rental income, allowable expenses, capital gains tax, and property tax structures. They help you complete your Self Assessment tax return accurately, claim all eligible deductions, and plan for future tax liabilities. They also advise on the tax implications of buying, selling, or renovating properties, ensuring you remain compliant with HMRC regulations while optimising your financial position.
How can an accountant help with HMRC compliance for my rental properties?
An accountant ensures that all your rental income and expenses are correctly reported to HMRC. They prepare and submit your Self Assessment tax return on time, handle any correspondence from HMRC, and advise on tax payments on account. They also help you register for VAT if your rental business requires it, and keep you updated on changes in tax law that affect landlords, reducing the risk of penalties or fines.
What qualifications should I look for in a landlord accountant?
Look for an accountant who is a member of a recognised professional body such as ACCA, ICAEW, or AAT. These qualifications ensure the accountant has undergone rigorous training and adheres to high ethical and professional standards. Many accountants also hold specialist certificates in property tax, which demonstrates their expertise in landlord taxation. Always verify their credentials and check for any disciplinary history before engaging their services.
Can an accountant help me decide between owning property personally or through a limited company?
Yes, an accountant can analyse your individual circumstances and advise on the most tax-efficient ownership structure. They will consider factors such as the level of your rental income, the number of properties, your other income sources, and your long-term investment goals. They will compare the tax treatment of personal ownership versus a limited company, including Corporation Tax rates, dividend taxation, and the availability of mortgage interest relief, to help you make an informed decision.
How does Making Tax Digital affect landlords in Aberdeenshire?
Making Tax Digital (MTD) requires landlords to keep digital records and submit quarterly updates to HMRC using compatible software. While MTD for income tax is being phased in, it will eventually apply to landlords with rental income above a certain threshold. An accountant can help you choose the right software, set up your digital records, and ensure you meet all MTD requirements, avoiding any penalties for non-compliance.
What are the typical fees for a landlord accountant in Aberdeenshire?
Fees vary depending on the complexity of your tax affairs, the number of properties you own, and the level of service you require. Some accountants charge a fixed annual fee for preparing your tax return, while others bill on an hourly basis. Additional services such as VAT registration, bookkeeping, or tax planning will incur extra costs. It is advisable to request quotes from several firms and compare the services included in their fees before making a decision.
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