
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 returns do accountants for landlords prepare?
Accountants for landlords typically prepare Self Assessment tax returns for individual landlords, reporting rental income and allowable expenses. For those who operate through a limited company, they also prepare Corporation Tax returns. They ensure all figures are accurate, deadlines are met, and that you claim all relevant reliefs, such as replacement furniture relief and repairs deductions.
How can an accountant help with HMRC compliance for rental income?
An accountant ensures you register with HMRC if required, file your tax return on time, and pay the correct amount of tax. They keep up to date with changes in tax law, such as the reduction in mortgage interest relief, and help you maintain proper records. This reduces the risk of penalties and enquiries from HMRC.
Are accountants on AccountingFirms regulated by professional bodies?
Yes, all firms featured on AccountingFirms are verified and regulated by recognised professional bodies such as ACCA, ICAEW, or AAT. This means they adhere to strict ethical and technical standards, and they are required to maintain professional indemnity insurance. You can trust that the advice you receive is from a qualified expert.
What is the difference between a chartered accountant and a certified accountant?
Chartered accountants are typically members of ICAEW or ICAS, while certified accountants are members of ACCA. Both are highly qualified and regulated, with similar levels of expertise in taxation and accounting. The main difference lies in the training route and the professional body, but both are equally capable of handling landlord tax affairs.
Can an accountant help me with VAT on my rental property?
Yes, an accountant can advise on VAT registration if your rental income exceeds the threshold or if you provide services that are VATable. They can help you decide whether to register voluntarily, manage your VAT returns, and ensure you claim input tax correctly. This is particularly relevant for landlords of commercial properties or those offering furnished holiday lets.
How often should I meet with my accountant to review my landlord finances?
It is advisable to meet with your accountant at least once a year to review your tax return and plan for the coming year. However, more frequent meetings, such as quarterly, can be beneficial if you have a complex portfolio or are considering new investments. Regular contact helps you stay ahead of tax changes and make informed decisions.
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