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
Accounting etc. limited
We are a small firm of Chartered Management Accountants dedicated to providing you with a high quality accountancy service and sound business advice a...See More
Turner Barratt
At Turner Barratt we believe that we have something unique to offer. Just Corporate Finance Turner Barratt are Chartered Accountants who are dedicate...See More
Frequently asked questions
What specific services do Accountants For Landlords in Berkshire offer?
Accountants specialising in landlord taxation typically offer services such as preparing and filing Self Assessment tax returns, calculating allowable expenses, advising on capital gains tax when selling a property, and structuring your rental business efficiently. They can also help with VAT registration and returns if your rental income exceeds the threshold, and provide ongoing bookkeeping and tax planning advice to ensure you remain compliant with HMRC.
How can an accountant help me with my HMRC Self Assessment tax return?
An accountant will ensure your Self Assessment tax return is accurate and submitted on time, avoiding penalties. They will identify all allowable deductions, such as property repairs, insurance, and letting agent fees, to reduce your tax liability. They can also advise on how to report rental income from overseas properties or multiple lets, and they will handle any correspondence from HMRC on your behalf, giving you peace of mind.
What qualifications should I look for in a landlord accountant in Berkshire?
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. Additionally, check if they have specific experience with property landlords, as this indicates they understand the nuances of rental income taxation, HMRC regulations, and the latest legislative changes affecting landlords.
Can an accountant help me if I let properties through a limited company?
Yes, many accountants specialise in property companies. They can assist with Corporation Tax returns, ensuring you claim all relevant deductions and comply with Companies House filing requirements. They will also advise on extracting profits tax-efficiently, whether through dividends or salary, and help with VAT planning if your company is VAT-registered. This ensures your limited company structure remains beneficial and compliant.
How often should I meet with my landlord accountant?
It is advisable to have a meeting at least once a year to review your tax return and plan for the year ahead. However, many landlords benefit from quarterly or even monthly check-ins, especially if they have a large portfolio or are planning to buy or sell property. Regular contact allows your accountant to provide proactive advice on tax changes, cash flow management, and investment opportunities, keeping you ahead of any potential issues.
What records do I need to keep for my landlord accountant?
You should keep records of all income and expenses related to your rental properties, including rent received, receipts for repairs, invoices for services like gardening or cleaning, and records of any mortgage interest payments. If you own a furnished property, keep details of furniture purchases for capital allowances. Your accountant will also need your P60 or other employment income details if you are also employed, to ensure your Self Assessment is complete.
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