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
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
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
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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
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
Cheaper Accountant
We're the UK's leading low cost accountants. Simple & affordable fees with Company Accounts & Co. Tax Retu...See More
MJF ACCOUNTANCY LIMITED
Harris Rosenberg Chartered Accountants
We help small-scale and early-stage businesses get to where ...
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C & B Accounting Solutions Ltd
All aspects of bookkeeping, payroll & accounting undertaken
Oakes Accounting
Oakes Accounting specializes in providing tailor made accounting services, including bookkeeping, VAT and self assessment to small businesses.
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
GE ACCOUNTANCY LTD
Specialist Motor Trade Accountant with over 20 years. Accountancy & Book Keeping Services offered including VAT Preparation & Submission, Self Assessm...See More
J. Jervis Accounting Services LTD
THE FINANCIAL MANAGEMENT CENTRE UK LTD
Online firm
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
Frequently asked questions
What specific tax issues do accountants for landlords handle?
Accountants for landlords specialise in preparing Self Assessment tax returns for rental income, 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 you meet all filing deadlines and respond correctly to any enquiries. Additionally, they provide guidance on the taxation of furnished holiday lettings and the implications of joint ownership.
How can an ACCA or ICAEW qualified accountant benefit my property business?
An ACCA or ICAEW qualified accountant brings rigorous technical knowledge and a strict ethical code to your financial affairs. They are trained to identify tax-saving opportunities and ensure full compliance with current legislation. Their professional status means they are regulated and subject to ongoing development, so you receive up-to-date advice. This expertise is invaluable when structuring your portfolio or dealing with complex HMRC investigations.
Should I register for VAT on my rental income?
VAT registration is generally not required for residential property rentals because they are exempt from VAT. However, if you provide services such as cleaning or maintenance separately, or if you let commercial property, you may need to consider VAT. An accountant can analyse your income streams and advise whether voluntary registration would be beneficial, particularly if you incur significant VAT on your own business purchases.
What records must I keep for HMRC as a landlord?
You must keep accurate records of all rental income received and all expenses incurred, including receipts, invoices, and bank statements. HMRC requires you to retain these records for at least five years after the 31 January submission deadline. You should also record the date and cost of any property purchases or improvements, as these affect capital gains calculations. A professional can help you organise a simple system.
How does Corporation Tax apply to landlords using a limited company?
If you hold rental properties within a limited company, your profits are subject to Corporation Tax rather than Income Tax. This can be more efficient for higher-rate taxpayers, as corporation tax rates are often lower. However, extracting profits via dividends has its own tax implications. An accountant can model both scenarios, comparing personal ownership versus company ownership, and help you decide which structure aligns with your long-term investment goals.
What happens if I miss the Self Assessment filing deadline?
Missing the Self Assessment deadline results in an automatic £100 penalty, with further charges accruing if you delay beyond three months. Interest is also charged on any unpaid tax. To avoid these consequences, it is wise to engage an accountant who can prepare your return well in advance. They will also ensure you pay the correct amount of tax on account for the following year, preventing unexpected bills.
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