
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 handle?
Accountants for landlords specialise in preparing Self Assessment tax returns, calculating capital gains tax on property sales, and advising on allowable expenses such as repairs, insurance, and letting agent fees. They also assist with HMRC compliance, ensuring all income from rental properties is correctly declared and that you benefit from all applicable tax reliefs, including mortgage interest relief.
How can an ACCA or ICAEW certified accountant benefit a landlord?
An ACCA or ICAEW certified accountant brings a high level of professional expertise and ethical standards to your financial affairs. They stay updated on the latest tax legislation and HMRC guidelines, providing accurate advice on complex matters like property income and capital allowances. Their rigorous training ensures your accounts are prepared accurately, reducing the risk of HMRC enquiries and penalties.
Do I need to register for VAT if I let out properties?
Residential property rental is generally exempt from VAT, meaning you cannot charge VAT on rent. However, if you also provide services such as cleaning or maintenance, these may be taxable. An accountant can assess your specific situation, advise on voluntary VAT registration, and ensure you comply with all HMRC requirements, helping you avoid unnecessary costs.
What is the difference between a tax return and Self Assessment?
A tax return is the form you submit to HMRC, and Self Assessment is the system used to report your income and gains. Landlords with rental income must complete a Self Assessment tax return each year, detailing their property income and expenses. An accountant can prepare and file this return on your behalf, ensuring accuracy and timeliness.
Can an accountant help me if I let property through a limited company?
Yes, accountants for landlords can assist with Corporation Tax returns, dividend planning, and ensuring compliance with Companies House requirements. They can advise on the most tax-efficient structure for your property business, whether operating as a sole trader or a limited company, and help you manage your tax liabilities effectively.
How do I choose the right accountant for my rental property?
Look for an accountant who is a member of a recognised professional body such as ACCA, ICAEW, or AAT, and who has experience working with landlords. Consider their familiarity with HMRC regulations, their responsiveness, and whether they offer proactive advice. Using a directory like AccountingFirms allows you to compare local firms and read reviews to make an informed choice.
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