If you have a rental property from which you receive an income you will have to declare it to HMRC so they can take any extra tax that you might owe to them. There are various schemes in which rental income is received, we can help you with all of them including
- Rent a room,
- Furnished Let,
- Unfurnished Let
- Furnished Holiday Let.
- Service charge Accounts
- Non-Resident Landlord Tax Returns
Working out the profit on your property let can be complicated and HMRC will often issue penalties and interest on what can quite often be innocent mistakes. The number of tax investigations is continually rising and can place a great deal of stress on an individual. It is now more important than ever to get an expert to prepare your tax return.
What We Offer
- PK Accounting Service work with you and can help you save money by ensuring you are maximising all forms of tax allowances and deductions which are extended to landlords, as well as advise you on the most tax-efficient way to purchase or maintain a property to let.
- We can also provide more general accounting support, such as bookkeeping, annual property accountants for landlords, filling in your tax returns and filing them within HMRC deadlines, as well as managing limited company accounts.
- They can also offer advice on the best way to optimise finances for overseas income, expenses, benefits and pensions as well as minimise tax liability and maximise capital gains.
Within most leases there is often a requirement for the landlord to provide an annual statement of service charge expenditure to occupiers after a service charge period. It is common for the annual statement to be certified by the landlord’s surveyor, managing agent and accountant. Where there is no express requirement in the lease to prepare an annual statement of service charge expenditure it is considered good practice as it provides a level transparency to the occupiers if a service charge statement is prepared and certified. Our principal aim is to assist property management agencies and property owners to meet their service charge obligations and obtain certification. Our clients rely on us to deliver a comprehensive, flexible, value-for-money service backed by a thorough understanding of the commercial and residential property industry
Dealing with the various property tax issues is a difficulty that landlords accept they will have to contend with. Added to which the tax rules for non-resident property owners have become more complex in recent years as the property tax and capital gains tax rules have changed.PK Accounting Service providing a complete tax and accountancy support service to non-resident property. We are qualified and regulated accounting and tax professionals, with experience supporting individuals with international tax affairs.
PK Accounting Service will help to landlords Whether you are an individual, joint property owner, limited company, buy to let landlord, property investor, property developer or other type of landlord looking for an accountant.
For more information on accounting for landlords and to discuss your requirements please drop us a line using our Online Quick Quote Form