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 handle?
Accountants for landlords specialise in property-related taxation, including rental income reporting, capital gains tax on property sales, and claiming allowable expenses such as repairs, insurance, and mortgage interest. They also manage HMRC correspondence, ensure accurate Self Assessment tax returns, and provide advice on tax-efficient structures, such as holding property within a limited company. Their expertise helps landlords avoid common errors and penalties.
How can an ACCA or ICAEW qualified accountant benefit my property business?
An ACCA or ICAEW qualified accountant brings rigorous professional standards and up-to-date technical knowledge. They are trained to handle complex property tax rules, including changes in legislation. They can help you structure your finances effectively, plan for future investments, and ensure full compliance with HMRC requirements. Their expertise often leads to significant tax savings and improved financial management for your property portfolio.
Do I need a specialist accountant if I only rent out one property?
Even with a single rental property, tax rules are complex. A specialist accountant can help you claim all allowable expenses, correctly calculate your profit, and file your Self Assessment tax return accurately. They can also advise on the impact of mortgage interest relief changes and ensure you are not overpaying tax. Their guidance is valuable for avoiding mistakes and optimising your rental income.
What is the difference between a tax return and Self Assessment for landlords?
Self Assessment is the HMRC system for reporting your income and gains, and the tax return is the form you submit. Landlords must register for Self Assessment and file a tax return each year, declaring rental profits and any other income. A specialist accountant will prepare and submit this return on your behalf, ensuring all figures are correct and that you meet the annual deadline to avoid penalties.
How do accountants help with VAT and Corporation Tax for property companies?
If you hold properties in a limited company, you may need to account for Corporation Tax on your profits. Additionally, if your rental income exceeds the VAT threshold, you may need to register for VAT. An accountant can advise on VAT options, such as the Flat Rate Scheme, and ensure your Corporation Tax returns are filed correctly. They also help with tax planning to minimise your overall tax liability.
Why should I use AccountingFirms.co.uk to find a landlord accountant?
AccountingFirms.co.uk is a directory built by ICAEW and ACCA accountants, so you can trust the quality of professionals listed. The platform allows you to compare local firms in South Core, review their credentials, and connect with those who have specific experience in landlord taxation. This saves you time and ensures you find a verified, regulated accountant who meets your needs.
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