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
Sambhav Management Limited
Since 2012, we’ve offered clients the tools, resources and guidance necessary for all their accounting needs. Clients receive the personalized attenti...See More
Athena Bookkeeping Services
Athena Accounting and Bookkeeping Services. ?Let us take good care of your finances giving you more time to focus on the day to day running of your bu...See More
PAYLESS ACCOUNTING & OUTSOURCING LIMITED
We provide businesses with greater flexi...See More
GORILLA ACCOUNTING LIMITED
orilla Accounting was born after a group of specialist accountants with decades of experience amongst them, decided that accounting shouldn’t be a lab...See More
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Norbury Bookkeeping Services
We offer a complete bookkeeping and computerized payroll service throughout Cheshire and South Manchester and are able to offer support for all financ...See More
Cheaper Accountant
We're the UK's leading low cost accountants. Simple & affordable fees with Company Accounts & Co. Tax Retu...See More
Harris Rosenberg Chartered Accountants
We help small-scale and early-stage businesses get to where ...
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ACCOUNTS 2U LIMITED
Our director, Howard Turner MAAT ATT, qualified as an accounting and taxation technician in 1995 after training with chartered accountants in Cheshire...See More
BROOKSON LIMITED
Why Brookson? There are plenty of reasons. We’re specialists at dealing with self-employed finances, and have been doing this for over 20 years, so we...See More
Clarity Accountants
We work closely with our clients and act for a broad range of business and personal clients. Apart from the more general accountancy services we can a...See More
C & B Accounting Solutions Ltd
All aspects of bookkeeping, payroll & accounting undertaken
GE ACCOUNTANCY LTD
Specialist Motor Trade Accountant with over 20 years. Accountancy & Book Keeping Services offered including VAT Preparation & Submission, Self Assessm...See More
MJF ACCOUNTANCY LIMITED
Holden Associates
Holden Associates are a family run business founded in 2002, we are located at V12, Merlin Park, a modern purpose-built office in Burscough, Lancashir...See More
Oakes Accounting
Oakes Accounting specializes in providing tailor made accounting services, including bookkeeping, VAT and self assessment to small businesses.
LLOYDS ACCOUNTANTS LTD
We offer accounts, taxation and business advisory and support services to a wide range of businesses and individuals, nationwide. We continue to build...See More
MGM & CO. Chartered Certified Accountants
If you are looking for professional accountants offering a full range of accountancy and tax services to clients from across the UK, you have come to ...See More
Mind Your Assets Accounts
Mind Your Assets Accounts is based in Sheffield, South Yorkshire, with offices also in Manchester and London. We have over 20 years accountancy expe...See More
Frequently asked questions
What specific services do accountants for landlords typically provide?
Accountants specialising in landlord services usually offer a range of support including preparing and filing Self Assessment tax returns, calculating and advising on Capital Gains Tax, and ensuring correct treatment of rental income and expenses. They also help with VAT registration and returns if applicable, and can provide ongoing bookkeeping and year-end accounts. Many also offer advice on property portfolio structuring, such as owning properties through a limited company, and can assist with HMRC investigations or queries. The goal is to ensure you pay the correct tax and remain compliant.
How can an accountant help me with HMRC compliance?
An accountant ensures your tax affairs are in order with HMRC by accurately completing and submitting your Self Assessment tax return on time. They keep detailed records of your income and expenses, which is essential if HMRC enquires into your return. They also advise on your obligations, such as reporting rental income and paying tax by the relevant deadlines. If you are VAT-registered, they handle your VAT returns and ensure you meet all requirements. In the event of an HMRC investigation, they can represent you and handle all correspondence, reducing stress and potential penalties.
What is the difference between ACCA, ICAEW, and AAT qualified accountants?
ACCA (Association of Chartered Certified Accountants) and ICAEW (Institute of Chartered Accountants in England and Wales) are both chartered accountancy bodies, requiring rigorous exams and practical experience. They offer full accountancy, tax, and business advice. AAT (Association of Accounting Technicians) is a lower-level qualification, often focusing on bookkeeping and basic accounting tasks. While all are regulated, ACCA and ICAEW accountants are typically more qualified for complex tax planning and strategic advice. For a landlord, a chartered accountant (ACCA or ICAEW) is often recommended for comprehensive guidance.
Why is it important to use a regulated accountant for my rental property?
Using a regulated accountant ensures that the professional you hire meets strict standards of competence and ethics. Regulated bodies like ACCA, ICAEW, and AAT have codes of conduct and require members to maintain their skills through continuing professional development. This means they are up to date with the latest tax laws and HMRC regulations. It also provides you with recourse if you receive poor advice. Regulated accountants are more likely to be insured and are accountable for their work, giving you confidence that your tax returns are accurate and your financial interests are protected.
How often should I meet with my accountant to discuss my property finances?
It is advisable to meet with your accountant at least once a year to review your tax return and overall financial position. However, for landlords with multiple properties or complex structures, more frequent meetings, such as quarterly, can be beneficial. Regular communication helps you stay ahead of tax changes, plan for future investments, and ensure you are maximising your deductions. Many accountants offer ongoing support via email or phone, so you can ask questions as they arise. A good accountant will proactively suggest meetings when they anticipate changes that affect you, such as new tax legislation.
Can an accountant help me reduce the tax I pay on my rental income?
Yes, a skilled accountant can legally reduce your tax liability by ensuring you claim all allowable expenses, such as property repairs, insurance, and management fees. They can advise on capital allowances for furniture and equipment, and help you decide whether to use the cash basis or accruals basis of accounting. They can also guide you on the most tax-efficient structure for your property business, such as owning properties jointly with a spouse or through a limited company. By planning ahead and using their expertise, you can minimise your tax bill while remaining fully compliant with HMRC rules.
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