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
Numerii Ltd
Informed financial support for your business. We are a small, friendly and highly motivated team who offer a professional and efficient service to our...See More
MINT FORMATIONS LTD
We have over 100 years of combined industry experience, having worked with hundreds of startups and small businesses in every industry imaginable. We ...See More
Yourtaxhelp
Our motto is “Accountants and Tax Advisers with simple technology”. We will not stop being innovative or using cutting edge technology to help you out...See More
MAKESWORTH LIMITED
Makesworth
Accountants is an award-winning accountancy practice of Chartered
Certified Accountants tax and business advisors. We a...
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SJD ACCOUNTANCY LIMITED
SJD Accountancy is the UK’s largest specialist provider of fixed fee, limited company accountancy services to contractors and freelancers; we’ve been ...See More
Taxeasy Ltd
TaxEasy Ltd is an experienced and proactive firm of certified accountants and bookkeepers offering high quality accounting services to clients through...See More
MARK SASTA & ASSOCIATES
Mark Sasta & Associates Ltd is a member firm of the Institute of Chartered&nbs...
EXPEDIENT ACCOUNTANCY
Expedient Accountancy Limited provides a wide range of expert accounting services. We are a partnership of 3 Chartered Certified Accountants with more...See More
Hayes Accountants
Hayes Accountancy is your local accountancy service provider & part of the group BNW Accountants & Tax Consultants. We offer high-quality accounting a...See More
City Tax London
City Tax London provides unparalleled personalized accounting services and th...
DIrect Assist accountants Ltd
Direct Assist accountants Ltd is one of the fastest growing chartered accountants firm serving businesses and individuals from different industries fr...See More
BLUEBIRD ACCOUNTANCY LIMITED
Bluebird Accountancy was created with the needs of modern day contractors and freelancers like you in mind. With modern day accountancy software makin...See More
KUBED SOLUTIONS LIMITED
Gouri Kubair, the founding director of the business has over a decade of experience in the field of accountancy. Including 8 years in Deloitte, ...See More
BARNES MAYER LIMITED
Barnes Mayer Ltd is an independent, family run business providing accounting and taxation services throughout Maidenhead, Berkshire and Buckinghamshir...See More
DOLAN ACCOUNTANCY LIMITED
If our name sounds familiar, don’t be surprised. Dolan Accountancy was set up by Simon J Dolan, the man behind the well-known brand SJD Accountancy. A...See More
The Bean Counters Accountants LLP
Established in 2011, The Bean Counters Accountants is a growing accounting firm in Maidenhead which specializes in cloud accounting and bookkeeping, p...See More
Financial Partnership London
The Financial Partnership LLP, London, is a young, dynamic and innovative firm of Accountants & Business Advisors who can help improve the performance...See More
Frequently asked questions
What specific tax reliefs can a landlord claim?
Landlords can claim various reliefs including mortgage interest relief (restricted to the basic rate), replacement furniture relief, repairs and maintenance costs, letting agent fees, and professional fees such as accountancy costs. A qualified accountant will ensure you claim all allowable expenses correctly, reducing your taxable profit. They also advise on capital allowances for furnished holiday lets and the property allowance for small incomes, ensuring you maximise your deductions while staying compliant with HMRC rules.
How often should I meet with my accountant?
It is advisable to meet with your accountant at least twice a year: once before the tax year end to plan and once after to review your tax return. However, many landlords benefit from quarterly or even monthly check-ins, especially if their portfolio is growing or they are considering restructuring. Regular communication helps you stay ahead of tax changes, manage cash flow, and make informed decisions. Your accountant can also be available on an ad-hoc basis for urgent queries, such as a property purchase or sale.
Do I need to register for VAT if I rent out property?
Most residential landlords do not need to register for VAT because residential rents are exempt. However, if you let commercial property or provide additional services such as cleaning or maintenance, you may need to register if your taxable turnover exceeds the VAT threshold. Your accountant can assess your specific situation and advise on whether voluntary registration is beneficial, particularly if you incur significant VAT on your costs. They will also handle your VAT returns and ensure you meet HMRC deadlines.
What is the difference between ACCA and ICAEW qualifications?
ACCA (Association of Chartered Certified Accountants) and ICAEW (Institute of Chartered Accountants in England and Wales) are both prestigious professional bodies. ACCA has a global focus and is popular for its flexibility, while ICAEW is highly regarded in the UK, particularly for audit and corporate work. Both qualifications require rigorous exams and practical experience, ensuring high standards of professionalism. When choosing an accountant for your landlord affairs, either qualification provides assurance of competence, but you may prefer one based on their specific expertise or your business structure.
Can an accountant help me with a HMRC tax investigation?
Yes, an experienced accountant can be invaluable during a HMRC tax investigation. They can represent you, prepare the necessary documentation, and communicate with HMRC on your behalf to reduce stress and ensure your rights are protected. They will review your records to identify any errors and negotiate settlements if necessary. Having professional representation significantly improves the outcome of an investigation, as accountants understand the process and know how to present your case effectively. It is wise to have a specialist in place before any enquiry arises.
What records do I need to keep as a landlord?
You must keep records of all income and expenses related to your rental properties, including rent received, mortgage interest, repairs, insurance, and letting agent fees. You should also keep copies of tenancy agreements, invoices, and receipts. HMRC requires you to retain these records for at least five years after the 31 January submission deadline. Your accountant can help you set up a simple bookkeeping system, whether using spreadsheets or software, to ensure you are always organised and ready for your tax return.
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