
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 in Victoria Street provide?
They provide a comprehensive range of services including the preparation of Self Assessment tax returns, calculating capital gains tax on property sales, and advising on allowable expenses. They also assist with VAT registration and returns, and provide strategic planning for portfolio growth, ensuring you remain compliant with all HMRC requirements.
Why should I choose an ACCA or ICAEW qualified accountant for my rental property?
Choosing an ACCA or ICAEW qualified professional guarantees a high level of expertise and adherence to strict ethical standards. These qualifications require rigorous training and ongoing development, ensuring your accountant is up to date with the latest tax legislation. This provides you with confidence that your financial affairs are in safe hands and that you receive accurate, reliable advice.
How can an accountant help me with my HMRC obligations?
An accountant can act as your agent with HMRC, handling all correspondence and enquiries on your behalf. They will ensure your tax returns are filed accurately and on time, calculate your liabilities correctly, and advise on payment plans if needed. This removes the administrative burden and reduces the risk of penalties for late or incorrect submissions.
What is the difference between a tax return and Corporation Tax for a landlord?
A tax return, specifically Self Assessment, is used to report your income and gains to HMRC as an individual. Corporation Tax is a tax on the profits of a limited company. If you hold your property portfolio within a limited company structure, you will need to file Corporation Tax returns instead of or in addition to a personal Self Assessment.
Can an accountant in Victoria Street help me claim all my allowable expenses?
Yes, a specialist accountant will thoroughly analyse your expenditure to ensure you claim every allowable deduction. This includes costs like letting agent fees, repairs, insurance, and professional fees. They will also advise on more complex areas such as capital allowances for furnished holiday lets and the correct treatment of mortgage interest, ensuring you pay no more tax than necessary.
How do I know if I need to be VAT-registered for my rental income?
Rental income from residential property is generally exempt from VAT, so you may not need to register. However, if you provide services such as cleaning or laundry, or if you let commercial property and opt to tax, you may have a liability. An accountant will assess your specific situation and advise on your legal obligations regarding VAT registration.
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