
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 taxation, including the preparation of Self Assessment tax returns, calculating Capital Gains Tax on property sales, and advising on mortgage interest relief restrictions. They also manage VAT for larger portfolios and ensure compliance with HMRC regulations, helping you claim all allowable expenses and structure your finances efficiently.
How can an accountant help with HMRC compliance?
An accountant ensures that your tax returns are submitted accurately and on time, reducing the risk of penalties from HMRC. They stay updated on tax law changes, handle any correspondence from HMRC, and can represent you during investigations. This professional oversight ensures that you meet all legal obligations whilst optimising your tax position.
Why is it important to choose an ACCA or ICAEW qualified accountant?
ACCA and ICAEW qualifications indicate a high level of professional competence and adherence to strict ethical standards. These accountants undergo rigorous training and continuous development, ensuring they are knowledgeable about the latest tax legislation. Choosing such a qualified professional provides assurance of quality and reliability in managing your financial affairs.
Can an accountant help if I let property through a limited company?
Yes, accountants for landlords can provide expert advice on Corporation Tax, dividend planning, and the extraction of profits from a property company. They can help you decide whether incorporation is beneficial for your situation and manage the ongoing compliance requirements, including annual accounts and company tax returns.
What records do I need to keep for my accountant?
You should keep records of all rental income, including tenancy agreements and rent statements, as well as receipts for any expenses such as repairs, insurance, and letting agent fees. Your accountant will also need details of any property purchases or sales, mortgage interest statements, and records of any personal use of the property. Accurate record-keeping ensures your tax return is correct.
How does an accountant help with VAT on rental income?
Most residential landlords do not charge VAT on rent, but commercial property letting may be subject to VAT. An accountant can advise on whether you need to register for VAT, how to handle optional VAT on commercial properties, and how to reclaim VAT on related expenses. They will ensure you comply with HMRC rules and avoid any costly errors.
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