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Accountant for Landlords in London

As a landlord, you might have one or more properties in the form of flats or houses that you have rented out, a buy-to-let mortgage property, or your own property. A certain amount of finances is associated with property ownership, which is subject to particular tax requirements, from property tax to income tax.

You need to seek expert advice to understand the tax requirements better and effectively manage your property finances in the UK. For this purpose, specialist accountants can provide the required assistance to make a significant difference. They have all the knowledge to track your finances and provide financial advice.

Jungle Tax provides the services of accountants for landlords in London. Having years of experience, our professionals fulfil all the tax requirements for first-time buy-to-let property investors and business landlords with several properties nationwide. We have all the required expertise to handle landlords' accounts and tax returns.

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    Tax Requirements for Landlords

    The following are the tax requirements which need to be fulfilled by the landlords:

    Landlord Tax on Rent and Property Income

    Landlords must pay income tax to His Majesty’s Revenue & Customs (HMRC) on any earnings from rented residential properties. Any profits received directly from the tenants in the form of rent payments or utility bill compensation are all part of these earnings.

    Capital Gains Tax on Property Sales

    It is an essential payment for all non-primary property sales, and landlords must pay Capital Gains Tax if they sell a rental property. This tax applies to non-primary residences like holiday homes or buy-to-let properties.

    We Help All the Landlords

    Our company has the best accountants for landlords, assisting all the landlords who own different properties, including:

    Buy-to-Let Property

    You do not need to worry if you are new to the world of rental properties. Our well-qualified and highly trained accountants help individuals and business owners regarding property tax obligations. We efficiently handle your property finances from all aspects and help to:

    Accountant for Landlords in London
    Accountant for Landlords in London

     

    • Create landlord tax returns
    • Provide insights into VAT
    • Manage communications with the tax office

    Multi-Occupancy Buildings

    You can get assistance with our accountancy service in London if you own a multi-occupancy property. We help you deal with multiple tax requirements and costs, ensuring all the extra fee charges are accounted for and provide accurate details of expenses on your yearly landlord tax return.

    Multiple Tenancies

    We help limited companies and larger businesses who operate under a trading name to handle several moving parts of finances all at once. Our tax accountants for landlords ensure timely completion of your taxes accurately and precisely, saving your property from tax hitches.

    Need a Landlord Accountant in London? Contact Us!

    We help you meet all your legal obligations by providing expert advice. Having years of experience, we help our clients with Capital Gains Tax, Tax Returns, and more.

    If you are searching for an accountant for landlords in London, contact us today.

    FAQs

    As a landlord, you can claim specific expenses against your rental properties, such as the overall profit that impacts the landlord tax amount you must pay. On the other hand, as a limited company owner, you can claim various expenses, which include:

    • Accountant's fees
    • Council tax
    • Insurance premiums
    • Maintenance costs
    • Property repairs

    HMRC has developed several methods for successfully tracking your income from rented property, which include:

    • Stamp Duty Land Tax (SDLT) Records Examination
    • HM Land Registry Check
    • Communicating with Estate Agents and Property Management Companies
    • Tenants' Security Deposits Check
    • Electoral Register Records

    The following are some of the categories of costs which qualify as expenses which a landlord can claim while filing an income tax return:

    • Direct Running Costs
    • Insurance
    • Maintenance and Repairs
    • Services Fees
    • Travel Costs
    • Utility Bills

    The individuals living abroad for six months or more per year are classified as "non-resident landlords." They must also pay tax on their rental income from the UK property.