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
TI Accountancy Limtied
TI Accountancy was established in 2002 by its owner Tracy Irwin, who grew the company organically through her hard work and determination to the Emplo...See More
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
NIXON WILLIAMS LIMITED
Nixon Williams has been providing specialist accountancy services to contractors, freelancers, consultants and interim professionals throughout the UK...See More
Pepperhill Associates
Xero Certified Adviser - Remote service taking care of all your bookkeeping needs. Providing a professional, confidential, flexible and reliable bookk...See More
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
GE ACCOUNTANCY LTD
Specialist Motor Trade Accountant with over 20 years. Accountancy & Book Keeping Services offered including VAT Preparation & Submission, Self Assessm...See More
C & B Accounting Solutions Ltd
All aspects of bookkeeping, payroll & accounting undertaken
Harris Rosenberg Chartered Accountants
We help small-scale and early-stage businesses get to where ...
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PAYLESS ACCOUNTING & OUTSOURCING LIMITED
We provide businesses with greater flexi...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
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
Holdsworth Accountancy
We are a team of experienced, qualified accountants and bookkeepers providing professional services to individuals and businesses within Bradford and ...See More
Cheaper Accountant
We're the UK's leading low cost accountants. Simple & affordable fees with Company Accounts & Co. Tax Retu...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
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
MJF ACCOUNTANCY LIMITED
Oakes Accounting
Oakes Accounting specializes in providing tailor made accounting services, including bookkeeping, VAT and self assessment to small businesses.
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
Frequently asked questions
What specific services do accountants for landlords in Lancaster provide?
Accountants for landlords in Lancaster typically offer services such as preparing and filing Self Assessment tax returns, calculating allowable expenses, managing VAT for larger portfolios, and advising on capital gains tax when selling properties. They also assist with Corporation Tax if you run your rental business through a limited company, and provide ongoing tax planning to help you minimise liabilities and stay compliant with HMRC regulations.
How can an accountant help me with HMRC tax investigations?
If HMRC opens an investigation into your tax affairs, an accountant can act as your representative, handling all correspondence and gathering the necessary evidence to support your position. They will review your records, prepare detailed responses, and negotiate with HMRC on your behalf. This reduces stress and ensures your rights are protected, as the accountant understands the investigation process and can identify any errors in HMRC's calculations.
What qualifications should I look for in a landlord accountant?
Look for accountants who are members of recognised professional bodies such as ACCA, ICAEW, or AAT. These qualifications guarantee a high standard of expertise and ethical practice. Additionally, check if the accountant has specific experience with property taxation, as this ensures they are up to date with the latest rules and reliefs applicable to landlords. Many firms in Lancaster also offer a free initial consultation, allowing you to assess their suitability.
Can an accountant help me reduce my tax bill as a landlord?
Yes, an accountant can significantly reduce your tax bill by identifying all allowable expenses you can claim, such as letting agent fees, maintenance costs, insurance, and mortgage interest (subject to restrictions). They can also advise on tax-efficient structures, like using a limited company, and recommend timing strategies for large purchases or property sales. By staying informed on tax reliefs and allowances, they ensure you pay only what you owe.
What is the difference between Self Assessment and Corporation Tax for landlords?
Self Assessment is the system for reporting income tax to HMRC, used by individual landlords who own properties personally. Corporation Tax is a separate tax on company profits, applicable if you hold your rental properties through a limited company. An accountant can help you decide which structure is best for your situation, considering factors like income levels, long-term goals, and potential tax savings. They will then prepare the appropriate returns and advise on payment deadlines.
How often should I meet with my accountant to review my property finances?
It is advisable to meet with your accountant at least once a year to review your property finances, especially before the tax year end to plan for upcoming liabilities. However, if your portfolio grows or you make significant changes, more frequent meetings may be beneficial. Many accountants in Lancaster offer ongoing support throughout the year, so you can contact them with queries about new purchases, renovations, or changes in legislation affecting your rental income.
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