Accountant for Landlords

Specialist Accountants For Landlords

You might rent out a property simply as a side project, or instead hold a large portfolio of rental properties. Either way, you would count as a landlord — and would have to contend with a wealth of landlord-specific tax law, which has become more complicated over time.

It doesn’t help that tax legislation needs to be considered during a wide range of landlord pursuits — including buying and selling properties and establishing multiple streams of rental income. It would therefore be convenient for you to have a specialist landlord accountant within easy reach.

The good news is that we can introduce you to such an accountant — and you would have the option of tasking them with an array of potentially demanding accountancy responsibilities. These include bookkeeping, sending off completed tax returns and managing company accounts.

How Should ‘Landlord’ Be Defined?

In the UK, a landlord is technically classed as an individual who, under either a lease or a licence of less than seven years, rents out a property they own. Residential premises can be let out by not just private-sector landlords but also hostels, housing associations and local authorities.

However, to fit the definition of a landlord, you do not strictly need to provide an entire property for rent. You might simply make individual rooms available for rent — such as in a hotel, bed-and-breakfast establishment or even the home you currently live in from day to day.

Landlords may also own rented holiday accommodation along the lines of flats, chalets and cottages, while there are also commercial landlords who permit businesses to take up space in workplace buildings, such as office blocks and shopping centres, on a rental basis.

See also accountants for Buy To Let.

The Worth Of A Specialist Accountant For Landlords

With a landlord accountant by your side (at least metaphorically) at every turn, you can expect to regularly save money — allowing you to invest it in other aspects of your business, such as by acquiring new rental properties or renovating or refurbishing sites you already own.

When landlords contact us in their search for a specialist accountant, we can provide them with one capable of ascertaining all forms of tax allowances and deductions for which the client is eligible. The client can also get help in buying and maintaining property especially tax-efficiently.

Once the accountant has confirmed that you are claiming all of the expenses, allowances and reliefs available to you, you might still need to submit a tax return. If this is indeed the case, the accountant can undertake this particular task for you and so remove it from your own to-do list.

The submission of a tax return will also be mandatory if, as a result of you selling or giving away a property, you are left with Capital Gains Tax (CGT) to pay. However, you can be familiarised with any tax planning opportunities that would enable you to reduce your CGT obligation.

As A Landlord, You Can Easily Find The Right Accountant

Through contacting us and detailing your specific accountancy needs, you can help us to help you. We can track down a qualified accountant whose skills profile is aligned with financial challenges you face as a landlord — and this service offered by AccountantFrom is 100% free.