
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 offer specialist advice on rental income, allowable expenses, capital gains tax, and property tax strategies. They help you structure your portfolio efficiently, whether you own properties personally or through a limited company. They also assist with HMRC compliance, ensuring your Self Assessment tax return is accurate and submitted on time, and can advise on the implications of changes to tax legislation affecting landlords.
How can an ACCA or ICAEW accountant help with HMRC enquiries?
If HMRC opens an enquiry into your tax affairs, an ACCA or ICAEW qualified accountant can act as your representative. They will handle all correspondence, prepare the necessary documentation, and ensure that your rights are protected throughout the process. Their professional expertise and experience with HMRC procedures can significantly reduce the stress and potential financial impact of an enquiry, giving you peace of mind.
What is the difference between a tax return and a Self Assessment for landlords?
A Self Assessment tax return is the form you complete to report your income and capital gains to HMRC each year. For landlords, this includes rental profits, which must be declared on the property pages of the return. A tax return is the actual submission, while Self Assessment is the broader system that requires you to register, file, and pay any tax owed. An accountant can ensure both are done correctly.
Do landlords need to register for VAT on rental income?
Most residential rental income is exempt from VAT, so landlords typically do not need to register for VAT. However, if you provide furnished holiday lettings or commercial property rentals, VAT rules may apply. An accountant can assess your specific situation and advise whether VAT registration is necessary or beneficial, ensuring you comply with HMRC requirements while optimising your tax position.
Can an accountant help me with Corporation Tax if I use a limited company?
Yes, if you hold your rental properties within a limited company, your accountant will prepare and file your Corporation Tax return, calculate the tax due, and advise on director's remuneration and dividend strategies. They will also ensure that all company records are compliant with Companies House and HMRC, and help you navigate the complex rules around related party transactions and loan relationships.
What records should I keep as a landlord for my accountant?
You should keep records of all rental income received, including tenancy agreements and rent ledgers, as well as receipts for any expenses such as repairs, insurance, letting agent fees, and mortgage interest. If you own a furnished property, keep records of furniture purchases. Your accountant will need these to prepare accurate accounts and tax returns, and to support any claims you make for allowable deductions.
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