
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 services do accountants for landlords offer?
Accountants for landlords typically provide services such as preparing and filing Self Assessment tax returns, calculating Capital Gains Tax on property sales, advising on allowable expenses, and ensuring compliance with HMRC regulations. They can also help with VAT returns, Corporation Tax for limited company landlords, and tax planning to minimise liabilities. Many offer ongoing support for portfolio growth and property acquisitions.
How can an accountant help me with HMRC compliance?
An accountant will ensure that all your rental income and expenses are reported accurately to HMRC. They will keep you informed of deadlines for tax returns and payments, help you claim all legitimate deductions, and respond to any HMRC correspondence or investigations. By maintaining proper records and submitting correct information, you reduce the risk of penalties and interest charges.
Why should I choose an ACCA or ICAEW qualified accountant?
ACCA and ICAEW qualifications indicate that the accountant has completed rigorous training and adheres to professional standards. They are recognised globally and demonstrate a high level of expertise in taxation and accounting. Choosing such a professional ensures you receive advice that is both accurate and up to date, giving you confidence in your financial affairs.
Can an accountant help me if I let a property through a limited company?
Yes, many accountants specialise in advising landlords who operate through a limited company. They can assist with Corporation Tax returns, dividend planning, and the preparation of statutory accounts. They will also advise on the most tax-efficient way to extract profits from the company, ensuring you comply with all legal requirements while maximising your income.
What records should I keep for my accountant?
You should keep records of all rental income received, including tenancy agreements and rent statements. Also retain receipts for any expenses you wish to claim, such as repairs, insurance, and professional fees. Bank statements and mortgage interest statements are essential. Your accountant will use these records to prepare accurate tax returns and to identify any deductions you may have missed.
How often should I meet with my accountant?
Most landlords meet with their accountant at least once a year to review their tax position and plan for the future. However, you may need more frequent meetings if you are buying or selling property, changing your business structure, or facing an HMRC enquiry. Your accountant will advise on the best schedule based on your individual circumstances.
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