If you’re a landlord with any type of property for rent, preparing tax returns and dealing with HMRC can become an overwhelming burden. Action Accountants have extensive and unrivalled experience at preparing rental accounts and tax returns. Our client’s interests range from just one rental property to multiple properties with both long and short term lets.
Our Property Accounts service includes:
- Residential properties (furnished and unfurnished). It’s essential that you declare your rental income or loss, particularly as HMRC are actively seeking out non-disclosures in order to recover unpaid taxes surrounding rental income.
- Commercial properties. We ensure proper record keeping for your rental income and the filing of tax returns in accordance with tax law. Even if you did not make a profit, a disclosure must be submitted to HMRC.
- Rent-a-room. We minimise your tax liability as much as possible by using capital gains reliefs associated with rental properties. We also introduce the benefits of tax planning, in conjunction with your other sources of income.
- Furnished holiday lettings. We save you time, stress and money by handling your self-assessment for you. We process all the necessary computations, complete your return and submit it promptly and accurately to HMRC.