
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

MRC Accounting Services
Providing accounting services and solutions
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
Frequently asked questions
What specific tax deductions can a landlord claim on rental income?
A landlord can claim a variety of allowable expenses to reduce their tax bill. These include letting agent fees, legal costs for renewing a lease, buildings and contents insurance, and maintenance and repair costs. You can also claim for professional fees such as accountant costs and for services like cleaning or gardening if they are for the rental property. Mortgage interest relief is claimed at a basic rate reduction, and you should keep all receipts to substantiate your claims.
How does an ACCA or ICAEW qualified accountant assist with HMRC compliance for landlords?
An accountant qualified with ACCA or ICAEW brings a deep understanding of HMRC regulations and current tax law. They ensure your Self Assessment tax return is accurate and submitted before the deadline, avoiding late filing penalties. They can also represent you in the event of an HMRC enquiry or investigation. Their expertise helps you navigate complex areas like capital gains tax on property sales and the correct treatment of rental income, ensuring you remain fully compliant.
Should I hold my rental properties in a limited company or as an individual?
This is a significant decision that depends on your personal circumstances and long-term goals. Holding properties in a limited company means profits are subject to Corporation Tax rather than income tax, which can be beneficial if you are a higher-rate taxpayer. However, you will need to consider the administrative burden of company accounts and the tax implications of extracting profits as dividends. A specialist accountant can model both scenarios to help you choose the most tax-efficient structure.
What is Making Tax Digital and how does it affect landlords?
Making Tax Digital (MTD) is an HMRC initiative requiring businesses and landlords to keep digital records and submit updates quarterly using compatible software. If your gross rental income exceeds the current threshold, you must comply with MTD for Income Tax. This means you cannot simply rely on paper records. A qualified accountant can help you set up the appropriate software, manage your digital records, and ensure your quarterly submissions are made accurately and on time.
How can an accountant help me with VAT on my rental properties?
Most residential rental income is exempt from VAT, but there are exceptions. If you rent commercial property or provide services like cleaning, you may need to consider VAT registration. You can also elect to waive exemption, known as opting to tax, which allows you to charge VAT on commercial rents but reclaim VAT on your own costs. An accountant will analyse your income streams to determine if VAT registration is compulsory or voluntary and beneficial for your cash flow.
What records should I keep for my property rental business to satisfy HMRC?
You must keep records of all income received and all expenses incurred for your rental business. This includes tenancy agreements, rent receipts, invoices for repairs, and bank statements. You should also keep details of any loans used to purchase the property for mortgage interest calculations. Records must be kept for at least five years after the 31 January submission deadline. Maintaining organised digital records will make your accountant's job easier and help you avoid errors.
About Accounting Firms
AccountingFirms.co.uk is the UK's dedicated accountant comparison website, helping individuals, sole traders, landlords, startups, and SMEs instantly compare accountancy and tax fees from trusted UK accounting firms.
Find and connect with qualified accountants, tax advisers, bookkeepers, and business advisers using advanced search filters, verified profiles, and genuine reviews aggregated from Google, Trustpilot, Yelp, and other trusted platforms.
Over 26,000+ UK Accountants in One Place
Explore the UK's largest independent directory of accountants regulated by professional bodies including ICAEW, ACCA, AAT, CIMA, CIPFA, AIA, IFA, and other recognised UK accountancy bodies.
Affordable Online Accounting Services
Buy fixed-fee accounting packages online with confidence. Services are delivered by experienced UK-qualified accountants and tax advisers, covering:
A Marketplace for Accountants
For accounting firms, AccountingFirms.co.uk is more than a directory. It's a powerful lead generation platform, accountant marketplace, and business growth hub, helping practices attract new clients, increase online visibility, generate qualified leads, and win more accounting and taxation work across the UK.
