
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 in North Parade handle?
Accountants for landlords in North Parade specialise in property taxation, including rental income reporting, capital gains tax on property sales, and inheritance tax planning. They ensure your Self Assessment tax return is accurate, claim all allowable expenses, and advise on the most tax-efficient structure for your portfolio, whether as an individual or through a limited company.
How can an accountant help me with HMRC compliance?
An accountant will ensure that you meet all HMRC deadlines and filing requirements, reducing the risk of penalties. They can handle correspondence with HMRC on your behalf, respond to any enquiries, and provide support during a tax investigation. Their expertise ensures that your records are compliant and that you pay the correct amount of tax, no more and no less.
What qualifications should I look for in a landlord accountant?
Look for professionals who are members of recognised bodies such as ACCA, ICAEW, or AAT. These qualifications guarantee a high level of training and adherence to strict ethical standards. A certified accountant will have up-to-date knowledge of tax legislation and the expertise to handle complex property portfolios, giving you confidence in their advice and services.
Can an accountant help me with VAT on my rental income?
Most residential rental income is exempt from VAT, but there are exceptions, such as serviced accommodation or commercial property rentals. An accountant can assess your specific situation and advise whether you need to register for VAT. They will manage your VAT returns, ensure you reclaim any input tax correctly, and keep you compliant with HMRC regulations.
What is the benefit of using a limited company for my rental property?
Operating through a limited company can offer tax advantages, such as paying Corporation Tax rather than higher-rate income tax on profits. However, there are also additional administrative burdens and potential tax charges when extracting profits. An accountant can model your personal circumstances and advise on whether incorporation is the right strategy for your property business.
How often should I meet with my accountant to review my property finances?
It is advisable to have a formal review at least twice a year, typically before the end of the tax year and before the Self Assessment deadline. However, your accountant should be available throughout the year for ad-hoc advice, such as when you are considering a new property purchase or a change in your rental strategy. Regular communication helps ensure you stay on top of tax changes.
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