Filing of Taxes & Advisory
A landlord can reap both financial and personal advantages by efficiently operating a business from home. Any income that you make can be used to fund mortgage repayments and can be used with any additional profits generated to grow your house. There are however, many rules and regulations and responsibilities that, just like every organisation, must be adhered to.
So we can help if you start, have a property portfolio or even have a furnished vacation rental.
When you start working with us, you experience a difference when visiting our site:
More than tax returns
Accotax does more than just fill out the tax returns and file them. We make sure you get the most out of your property through:
Advice to tenants on special tax reliefs applicable to them
Advice on how to buy a property with tax-efficiency in mind
Advice on the financial documents you need to maintain
Advice on how to spend your rental income
A Room Tax Relief Rent
Leasing space has some tax relief opportunities. When you fulfil certain requirements, this can be fruitful in saving your taxes. It is important that you remain at the forefront of landlords' rules and regulations that change on an annual basis.
Our seasoned team of landlord accountants will keep you constantly updated and account for any new legislation affecting you as a landlord.
Landlords' Accounting Tools
We work with QuickBooks, the renowned, award-winning online accounting program, to ensure that from any device and from any venue, you can monitor your landlord accounts for each of your properties in real-time 24/7. This program allows you to use your smartphone and the new app to quickly upload invoices for expenses and receipts to ensure that you never misplace or lose them again.
Being a Landlord of Buy-to-Let.
Being a Landlord of Buy-to-Let
While buying a purchase-to-let property can be a great way to spend any money that would otherwise be sitting in a low-interest rate fund, making a low return on investment, you need to run your purchase-to-let assets as a business, keeping records of financial information, gains and losses, and incomes. You will then need to use this information to fill out a tax return every year so that HMRC knows how much tax you owe. This is why it is recommended that you receive advice for landlords from a specialist accountant.
Industrial Land Acquisition
If you own and operate a limited company and wish to purchase a commercial property for your company, you can choose to purchase it directly and then serve as your limited company's landlord, charging rent. You could rent out spare office space to other businesses as well. You would be a landlord when you purchase commercial property and should consider getting a specialist landlord accountant's advice.
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