Giving you room to grow
Not every accountant is a landlord accountant. While you can access basic services from any accountancy firm, they may not understand the challenges you face as a landlord and the nuances involved in managing your finances and property taxes.
Property investment isn’t as simple as you may think. There are multiple taxes to contend with, as well as various legal obligations landlords need to follow to stay compliant.
We work closely with our landlord clients to help them make the most out of their portfolio and retain more of their rental income.
Tackling your property business taxes
As we said, there are multiple taxes for landlords like yourself to contend with. If you sell a home that is not your main residence, you’ll have to pay capital gains tax on the profits.
Adding a new property to your portfolio will also require you to pay stamp duty, or land transaction tax if you’re based in Wales.
You’ll also have different tax liabilities depending on your business structure. If you’re a private landlord, you have to track your annual profit and pay income tax on any profits exceeding £1,000. Limited companies, meanwhile, need to contend with corporation tax.
Thankfully, no matter your business structure, we can advise you on ways to lower your tax bill through the use of reliefs and allowances. We’ll keep you on the straight and narrow at all times.
Some landlords decide to rent out a room in their own home, which can be a tax-efficient way to earn some extra income. Alternatively, you may decide to turn one of your properties into a holiday home. No matter the nature of your property business, we’ll be here to advise and guide you through the process.
Building your portfolio
Ambitious landlords may not just want to stop at one or two properties. If you want to expand your property portfolio, our landlord accountant services are here to help.
We can help you identify the best buy-to-let mortgage deals on the market. We want you to get a good return on your investment, so we’ll take care to explore all your options.
From there, we can help you manage finances to ensure you have the capital you need to hit your targets and build a sustainable rental business.
To talk about what you need, just drop us a message, and we’ll be right with you.