
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 reliefs can a landlord accountant help me claim?
A specialist accountant can help you claim all allowable expenses, such as letting agent fees, repairs, insurance, and professional costs. They will also ensure you correctly claim the 20% tax credit for mortgage interest, rather than the old deduction, and advise on capital allowances for furniture in furnished lettings. This ensures your tax bill is minimised legally.
How can an ACCA or ICAEW qualified accountant assist with HMRC enquiries?
If HMRC opens an enquiry into your tax return, a qualified accountant can act as your agent. They will handle all correspondence, prepare the necessary evidence, and negotiate on your behalf. Their professional knowledge of tax law and HMRC procedures provides peace of mind and reduces the stress of an investigation, ensuring your rights are protected.
Do I need to register for VAT if I let out properties?
Residential property rental is generally exempt from VAT, but commercial property letting may be taxable or subject to the option to tax. An accountant can assess your specific situation, advise on whether VAT registration is necessary, and manage your VAT returns. They will also help you decide if the option to tax is beneficial for your business.
What is the difference between a Self Assessment tax return and a Corporation Tax return for a landlord?
If you own property personally, you report rental income on a Self Assessment tax return. If you own property through a limited company, the company must file a Corporation Tax return. An accountant will advise on the most tax-efficient structure for your portfolio and ensure the correct returns are filed with HMRC on time.
Can an accountant help me with the tax implications of selling a rental property?
Yes, selling a property can trigger Capital Gains Tax. An accountant can calculate your gain, apply any available reliefs such as Private Residence Relief or Letting Relief, and advise on the timing of the sale. They can also help you structure the sale to minimise your tax liability, ensuring you keep more of your profit.
How do I choose the right accountant for my property portfolio in Worcs?
Look for an accountant who specialises in property taxation and is a member of a recognised body like AAT, ACCA, or ICAEW. Check their experience with landlords similar to you, and consider their location for easy communication. Using a directory like AccountingFirms allows you to compare local professionals and read reviews from other landlords.
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