
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 advice do accountants for landlords provide?
Accountants for landlords provide specialist advice on rental income reporting, allowable expenses, mortgage interest relief restrictions, and capital gains tax on property sales. They also guide you on whether to hold property personally or through a limited company, and ensure you meet all HMRC filing deadlines, including Self Assessment tax returns.
How can an ACCA or ICAEW accountant help with HMRC enquiries?
If HMRC opens an enquiry into your tax return, an ACCA or ICAEW qualified accountant can act as your representative. They will handle all correspondence, prepare the necessary documentation, and negotiate on your behalf. Their professional expertise ensures that your rights are protected and that you respond appropriately to any HMRC requests.
Do I need a specialist accountant if I only have one rental property?
Even with a single rental property, a specialist accountant can be beneficial. They ensure you claim all allowable expenses, such as repairs, insurance, and professional fees, and help you avoid common mistakes that could trigger an HMRC investigation. Their advice can save you money and ensure your tax return is accurate and compliant.
What is the difference between a tax return and a Self Assessment for landlords?
A tax return is the form you submit to HMRC, and Self Assessment is the system used to report your income and gains. As a landlord, you must register for Self Assessment and file a tax return each year, detailing your rental profits. An accountant will prepare and submit this for you, ensuring all figures are correct and that you pay the right amount of tax.
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 lets. An accountant can assess your situation and advise whether you need to register for VAT. They will also help you manage VAT returns and ensure you comply with HMRC regulations, avoiding any potential penalties.
How does a limited company structure affect my property tax?
Holding property in a limited company can offer tax advantages, such as lower Corporation Tax rates on retained profits and full relief on mortgage interest. However, there are additional compliance requirements, including filing annual accounts and Corporation Tax returns. An accountant will help you weigh the pros and cons and manage the ongoing obligations.
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