
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 advice do accountants for landlords provide?
Accountants for landlords provide advice on rental income reporting, allowable expenses, capital allowances, and capital gains tax when selling a property. They also help with mortgage interest relief calculations and ensure that your Self Assessment tax return is completed accurately and submitted on time to HMRC. Their guidance helps you minimise your tax bill legally.
How do I know if an accountant is qualified to handle landlord tax matters?
Look for accountants who are members of recognised professional bodies such as ACCA, ICAEW, or AAT. These qualifications require rigorous training and ongoing professional development. Additionally, check that the accountant has experience specifically with property rental taxation, as this area has unique rules. The professionals listed on AccountingFirms are all verified and regulated.
Can an accountant help me if I let property through a limited company?
Yes, many accountants specialise in property companies. They can assist with Corporation Tax returns, dividend planning, and ensuring that the company structure is tax-efficient. They also handle payroll if you employ staff and provide advice on extracting profits in the most tax-effective manner, whilst ensuring compliance with all HMRC requirements.
What records should I keep as a landlord for my accountant?
You should keep records of all rental income received, including tenancy agreements and rent ledgers. You also need to retain receipts for any expenses such as repairs, insurance, letting agent fees, and utility bills. Your accountant will use these records to prepare your tax return and to substantiate any claims if HMRC asks for evidence.
How often should I meet with my accountant to discuss my rental portfolio?
It is advisable to meet at least once a year before your Self Assessment deadline to review your income and expenses. However, if you have a large portfolio or are planning to buy or sell property, more frequent meetings are beneficial. Your accountant can provide ongoing advice throughout the year, especially if tax laws change.
What happens if I miss the deadline for filing my tax return as a landlord?
If you miss the HMRC deadline, you will incur an automatic penalty of £100, and further penalties apply if you delay longer. Interest will also be charged on any unpaid tax. An accountant can help you avoid this by ensuring your return is filed on time, and they can also assist if you need to appeal a penalty for a reasonable excuse.
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