
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 issues do accountants for landlords in County Durham handle?
Accountants for landlords in County Durham specialise in property-related tax matters, including Self Assessment tax returns, Capital Gains Tax on property sales, and the calculation of allowable expenses. They also assist with HMRC compliance, such as registering for VAT if your rental income exceeds the threshold, and they can advise on the tax implications of owning property through a limited company, including Corporation Tax obligations.
How can an ACCA or ICAEW qualified accountant help with my rental income?
An ACCA or ICAEW qualified accountant brings a high level of expertise and professional integrity to your tax affairs. They will ensure that your rental income is accurately reported to HMRC, identify all permissible deductions, and help you to structure your finances efficiently. Their training means they stay up to date with changes in tax law, so you can rely on their advice for both compliance and strategic planning.
Do I need to register for VAT if I rent out multiple properties?
VAT registration for landlords depends on your total taxable turnover, which includes rental income from commercial property, but residential lettings are generally exempt. An accountant for landlords in County Durham can assess your specific situation and advise whether you need to register for VAT. They will also help you to manage VAT returns and ensure that you are claiming any relevant input tax correctly.
What is Making Tax Digital and how does it affect landlords?
Making Tax Digital (MTD) is an HMRC initiative requiring businesses, including landlords with income above the threshold, to keep digital records and submit updates using compatible software. An accountant who is familiar with MTD will help you to set up the necessary digital systems, maintain accurate records, and file your quarterly updates on time. This reduces the risk of errors and penalties.
Can an accountant help me reduce my Capital Gains Tax when selling a property?
Yes, an experienced accountant can provide valuable advice on reducing Capital Gains Tax (CGT) when you sell a rental property. They will help you to calculate your gain accurately, claim any available reliefs such as Private Residence Relief or Letting Relief, and consider the timing of the sale to minimise your liability. Their planning strategies can make a significant difference to your net proceeds.
How do I choose the right accountant for my property business in County Durham?
When choosing an accountant for your property business, look for someone who is a member of a recognised body such as ACCA, ICAEW, or AAT, and who has specific experience with landlords. You should also consider their familiarity with HMRC digital services, their approach to communication, and their fee structure. Using a directory like AccountingFirms allows you to compare local professionals and read client reviews before making a decision.
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