You & your family
Accounting for landlords
Buying a property can provide you with a steady income which appreciates over time. It’s not surprising that a large number of our clients choose to invest in property, and many become landlords.
We offer a full range of accounting and tax services for landlords, and can provide you with advice regarding all tax aspects of buying, selling and letting property.
Self assessment tax return
As a landlord, you might not consider yourself to be self-employed or a small business owner but, if you’re making money from renting out a property, HM Revenue & Customs (HMRC) may require you to fill in a self assessment tax return. This can be a daunting prospect, but our tax advisors can help you with this.
Buy to let landlords
When you rent out a property you’re liable to pay income tax on the difference between the rents you have charged in a tax year and any allowable expenses and charges. We can help make sure you claim the expenses and reliefs you are entitled to, and minimise the tax you pay.
Furnished holiday lets
A furnished holiday let is classified as a ‘trade’ by HMRC, so gains from certain benefits and allowances that are usually only available to normal trading businesses. We can advise you on the criteria required to qualify for these special tax advantages.
Letting rooms in your home
You may not pay tax if you let rooms in your own home and the total rental income is less than £7,500 per tax year. Our experts can talk to you about the conditions required in order to apply this exemption.
Accounting and tax services for landlords
Whether you are operating as a buy to let landlord, a furnished holiday let business, or simply receiving rent from letting a room in your home, our experts will be on hand to advise you.
Change to Whitley Stimpson
Confirm to your accountant that you wish to move to Whitley Stimpson
Supply Whitley Stimpson with your existing accountant’s details
Relax. We’ll handle the rest.
You & your family
With resources stretched at HMRC at the best of times, but even more so currently, they are writing ‘nudge letters’ to taxpayers to encourage them to check their returns, but the copy that’s sent to tax advisors doesn’t necessarily tell us who they have written to.
Partners in your progress
Talk to us about your rental property and we’ll make sure you’re claiming the right expenses and reliefs, and minimising the tax you pay.