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 completing Self Assessment tax returns, calculating capital gains tax on property sales, and advising on mortgage interest relief. They also help with VAT registration and returns if applicable, and ensure compliance with HMRC regulations. Their expertise ensures you claim all allowable expenses and avoid common pitfalls.
How can an ACCA or ICAEW qualified accountant benefit my rental business?
An ACCA or ICAEW qualified accountant brings rigorous training and ethical standards. They can provide strategic tax planning, accurate record-keeping, and proactive advice on property portfolio structuring. Their qualifications mean they are up-to-date with the latest tax laws, helping you minimise liabilities and maximise profits. They also offer professional credibility when dealing with HMRC.
Do I need a separate accountant for my limited company rental properties?
If you own rental properties through a limited company, you have different reporting obligations, including Corporation Tax and annual accounts. A specialist accountant can prepare these documents and advise on salary versus dividend extraction. They ensure your company complies with Companies House and HMRC requirements, whilst optimising your tax position.
What records should I keep for my landlord accountant?
You should maintain detailed records of all rental income and expenses, including repair costs, letting agent fees, insurance, and mortgage interest. Keep receipts, bank statements, and tenancy agreements. Your accountant will use this information to prepare accurate tax returns and identify deductions. Good record-keeping simplifies the process and reduces the risk of errors.
How often should I meet with my accountant for landlord tax advice?
It is advisable to have a meeting at least twice a year – once before the tax year end to plan, and once after to review your returns. However, regular contact is beneficial if your circumstances change, such as buying or selling a property. Many accountants offer ongoing support, so you can reach out whenever you need advice.
What is the difference between a chartered accountant and a certified accountant?
Chartered accountants are typically members of ICAEW or ICAS, whilst certified accountants belong to ACCA or CIMA. Both are highly qualified and regulated, but their training paths differ. For landlord accounting, either can provide excellent service. The key is to choose someone with specific experience in property taxation and a good track record with HMRC.
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