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
Cruse+Burke
As one of the leading accountants in Croydon, we are forward thinking in the way we approach your business requirements and the way we give you except...See More
Owadally & Kings Partnership
At O&K we aspire to be one of the most forward thinking accountancy firms in Croydon. Our dedicated in-house team, and external specialists, based in ...See More
Cruse + Burke
As one of the leading accountants in Croydon, we are forward thinking in the way we approach your business requirements and the way we give you except...See More
APRC Accountants
We are a forward thinking firm of Chartered, Certified Public Accountants & Tax Advisers and Chartered Payroll Professionals established in 2005 in th...See More
Taxaccolega Chartered Accountants & Tax Advisers
As one of the brightest firms of chartered accountants in London, UK, Taxaccolega, based in Croydon, combines the passion and creative thinking of a s...See More
Marden & Co Accountants Ltd
We are a two partner accountancy practice based in Epsom, serving Sutton, Banstead, Reigate, Dorking & across Surrey. We provide professional accounta...See More
Central London Accountants
We are proud partners of leading software provider firm Xero, and we can help if you require Xero Accountants in London, Xero training, or need remote...See More
Cheap - Accountants
As a small business owner, your main focus is to work on your business strengths to help it grow, and you can’t just achieve it through juggling every...See More
London Accountants
We have been providing a range of tailored accounting and taxation services to individuals as well as small and medium sized businesses. See More
Abu Umar & Co.
Welcome to Abu Umar & Co. We are a small Accounting firm, based in London, We specialize in dealing with all accounting problems. As we have been o...See More
Tax Cruncher
Tax Cruncher is an online accounting &Tax consulting firm serving clients nationwide. Our aim is to help SMEs to grow their business by crunching thei...See More
EFJ CONSULTING LTD
We are the firm of Chartered Certified Accountants based in London. We provide professional and practical help with all aspects of accountancy and tax...See More
Coman And Co Ltd
Chartered Tax Advisers and Chartered Certified Accountants, we offer assistance with tax return compliance and specialist tax consultancy services for...See More
OVAL ACCOUNTANTS LTD
Your Bookkeeping, Accounting And Self Assessment Experts, Here To Bring You The Highest Standard Of Service.
Accounting Made Simple
Accounting Made Simple is a tech-savvy accountancy and bookkeeping organization located in London which assists clients to ru...See More
Frequently asked questions
What specific tax reliefs can an accountant for landlords help me claim?
An accountant can help you claim reliefs such as the replacement of domestic items relief, which allows you to deduct the cost of replacing furnishings, and the property income allowance for smaller portfolios. They will also ensure you correctly claim mortgage interest relief, which is restricted to the basic rate of tax, and guide you on capital allowances for any commercial property elements. By thoroughly analysing your expenses, they ensure you claim every deduction you are entitled to, reducing your overall tax bill.
How does an ACCA or ICAEW qualified accountant add value for landlords?
ACCA and ICAEW qualified accountants have undergone rigorous training and adhere to strict ethical and professional standards. Their expertise ensures that your accounts are prepared accurately and in compliance with HMRC requirements. They stay up-to-date with the latest tax legislation, allowing them to provide proactive advice on structuring your property business efficiently. This can lead to significant tax savings and peace of mind, knowing that your financial affairs are managed by a recognised professional.
Do I need to register for VAT if I rent out residential properties?
Residential property rentals are generally exempt from VAT, so you may not need to register for VAT solely for that income. However, if you also provide services such as cleaning or maintenance, these may be taxable. An accountant can assess your specific situation and advise whether VAT registration is necessary. They will also help you manage any VAT obligations if you have commercial property income, ensuring you remain compliant with HMRC rules.
What is the difference between Self Assessment and Corporation Tax for landlords?
If you own rental property personally, you report your income and expenses on a Self Assessment tax return, paying Income Tax on your profits. If you operate through a limited company, the company pays Corporation Tax on its profits, and you may also pay tax on dividends or salary. An accountant can help you decide which structure is most tax-efficient for your circumstances, and they will prepare and file the appropriate returns with HMRC.
How can an accountant help me with HMRC investigations or queries?
If HMRC opens an enquiry into your tax return, an accountant can act as your representative, handling all communication with HMRC on your behalf. They will prepare the necessary documentation and provide a clear explanation of your tax position, helping to resolve the enquiry efficiently and minimise any potential penalties. Their expertise ensures that your rights are protected and that you meet all deadlines and requirements set by HMRC.
What should I look for when choosing an accountant for my rental property business?
Look for a qualified professional who is a member of a recognised body such as ACCA, ICAEW, or AAT. Check that they have experience working with landlords and understand the specific tax rules for property income. Consider their availability and communication style, as you will need to share financial information regularly. Also, ask about their fees and what services are included, such as tax return preparation and advice on property transactions.
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