Get peace of mind your tax obligations are covered
Whether you’re just starting with your first rental property, or have an existing portfolio, understanding tax and keeping up with legislation is a job in itself. A job you never set out to do!
Are you experiencing any of the following?
- You’re always rushing to complete your rental accounts for your tax return
- You panic when you have to look for receipts and invoices for your property taxes
- You’re not really sure if you’re claiming for all your expenses and getting full tax relief
- When you do make a claim you’re not confident if it’s correct and worry HMRC might raise an enquiry later
- You don’t know how much money to put aside for tax so you don’t overspend
- You’re not sure if you are holding the property in the correct structure – as a sole trader (not lone trader) jointly for example with your partner; or in a limited company
It can feel like you need an accounting degree to have a rental property!
By handing the process over to us, you can be sure the accounting side of things is straightforward and stress free.
Start by understanding your basic obligations as a Landlord
From April 2024, you will be required to comply with the government-led initiative Making Tax Digital (MTD) if you let out a rental property. MTD will be the new way to record and submit your tax returns to HMRC. It’s critical to get into the habit of submitting your records digitally now, as every landlord will be required too report digitally to HMRC from an approved digital accounting software.
We help you submit your tax returns correctly, and save tax where possible
We’ll suggest the best tech to capture data with minimum fuss
We will recommend a cloud accounting software such as QuickBooks or Xero to make sure data is captured with efficiency, allowing us to advise on tax implications.
Once we know your requirements we will recommend the correct product. We may even recommend some helpful apps depending on the size of your property portfolio.
How it works:
Onboarding can take anywhere from 1 day to several weeks, depending on the services you require. We will let you know how long this will be at the time and explain next steps.