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
Williamslester Brilliant Accounting Services
Our range of services are provided by fully qualified and experienced staff who always monitor, advise and review both new and existing clients. This ...See More
TKI Bookkeeping & Accounts
Hello and welcome to my site, I am qualified by the The Institute of Certified Bookkeepers and have attained highest level qualification, Level 4 Dipl...See More
HUBBLE ACCOUNTANCY LTD
This listing was generated using publicly available data to enhance visibility for businesses. If this is your business, claim your profile to update details.
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MARLIS BOOKKEEPING & ACCOUNTANCY
The team comprises of Marion and Lisa, a mother and daughter combination, who offe...
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Kings Oak Accountancy
Accountants based in Bristol, Bath & Somerset providing accounting and tax services to small and medium size owner-managed businesses. Our services in...See More
KINGS OAK ACCOUNTANCY (SOMERSET) LTD
We are a small firm of Accountants based in Somerset. Michael is a fellow of the Chartered Institute of Management Accounting with over 30 years expe...See More
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R Albert Accountancy Ltd
We are an AAT Licensed accountancy practice providing a professional and friendly service. A new accountancy practice offering fantastic one to one s...See More
Woody's Payroll & Bookkeeping Services
Here at Woody's we have years of experience in providing a dedicated, professional and highly personal service to our clients. We offer a wide range o...See More
Purnells - Licensed Insolvency Practitioners
As insolvency practitioners we also specialise in interpreting the legislation set out in The Insolvency Act 1986, The Insolvency (England and Wale...
Modus Accountants Limited
Whether you are looking for advice, inspiration, accountancy services or all three, our integrated services will provide as much or as little su...See More
MRC Accounting Services
Providing accounting services and solutions
Bell Stanley Accountants
Welcome to Bell Stanley Accountants page.
Capital Accountancy - Accountants & Tax Advisors
WE at CAPITAL ACCOUNTANCY specialises in helping small-to-medium sized businesses, sole traders, contractors and landlords. We make sure you pay the r...See More
Financial Claims Consultants
Financial Claims Consultants offer No Win No Fee Pension Claims – we help clients&...
Naseems Accountants
Established in 1978, Naseems Accountants is a small but growing business with our clients doubled over the last decade. We honor ourselves in ou...See More
AMSTOR ACCOUNTANTS LIMITED
Amstor Accountants Limited T/A Premier Accountants, Auditors and Tax Advisers want to help you pay less tax and keep more of the profit your business ...See More
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Raven Solution
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ADD- WORTH ACCOUNTANCY LTD
Helping business owners make sense of their numbers. 30+ years of progressive finance and accounting experience in various industries. Offering expert...See More
Frequently asked questions
What specific tax advice can accountants for landlords in Somerton provide?
Accountants specialising in landlord taxation can offer guidance on allowable expenses, capital gains tax when selling a property, and the implications of the wear and tear allowance. They can also advise on the best business structure, whether as a sole trader or limited company, and help you complete your Self Assessment tax return accurately to meet HMRC deadlines.
How do I verify that an accountant in Somerton is properly qualified?
You should check that the accountant is a member of a recognised professional body such as ACCA, ICAEW, or AAT. These organisations require members to adhere to strict standards and undergo regular training. You can also ask for references or look for reviews on directories like AccountingFirms, which only lists verified and regulated professionals.
Can an accountant help me with VAT on my rental income?
Yes, an accountant can advise on whether your rental activities require VAT registration. For example, if you provide furnished holiday lettings, this may be treated as a business for VAT purposes. They will help you understand the threshold, complete VAT returns, and ensure you claim any allowable input tax on related purchases.
What records should I keep as a landlord for my accountant?
You should keep records of all rental income received, including tenant payments and deposits, as well as receipts for expenses such as repairs, insurance, letting agent fees, and mortgage interest. Also retain documents related to property purchases and sales. Your accountant will use these to prepare accurate accounts and tax returns, ensuring you claim every deduction you are entitled to.
How often should I meet with my accountant in Somerton?
It is advisable to meet with your accountant at least once a year to review your tax position and plan for the future. However, if your circumstances change, such as buying a new property or becoming VAT-registered, you should arrange an earlier meeting. Many accountants offer ongoing support throughout the year, so you can contact them whenever you have a query.
What are the penalties for late filing of a landlord tax return?
If you miss the Self Assessment deadline, HMRC imposes an automatic penalty of £100, even if you have no tax to pay. After three months, additional penalties of £10 per day apply, up to a maximum of £900. Further penalties and interest are charged for longer delays. An accountant can help you avoid these costly fines by ensuring your return is filed on time.
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