
Simplifying Taxes:
We take care of your tax affairs, ensuring compliance while maximizing tax-saving opportunities.
Accurate Accounting:
Our expert team provides meticulous accounting services, minimizing errors and optimizing your returns.
Saving Time:
By handling the financial complexities, we free up your time so you can focus on managing your properties effectively.
In property business, no error is small due to the sheer value involved. Let FAAS accountants cover you. Contact us today for a no obligation consultation.
Property Accountants at your Service: Tax and Accounting
Landlords Accountants in UK – Being a landlord brings unique challenges, especially when dealing with tax and accounting matters. Here are some typical issues that you might face:
Tax Complexity:
Understanding and managing taxes can be a daunting task, made more complex by shifting regulations and potential pitfalls.
Accounting Errors:
Without expertise in financial management, errors can creep into your accounting, which might lead to penalties or missed opportunities.
Financial Planning:
Making informed decisions about future investments requires a clear understanding of your financial situation.
How We Can Help?
As experienced property accountants, we aim to alleviate these challenges and help you navigate the financial landscape of property investment with ease. Here’s how we can assist:
Frequently Asked Questions
What taxes do landlords in the UK have to pay?
What taxes do landlords in the UK have to pay?
Landlords in the UK are typically liable to pay income tax on the rental income they receive. They may also be subject to other taxes such as Capital Gains Tax when selling a rental property.
How is rental income taxed in the UK?
How is rental income taxed in the UK?
Rental income is taxed as part of your total income in the UK. Landlords can deduct allowable expenses such as mortgage interest, property maintenance costs, and letting agent fees before calculating their taxable rental income.
Are there any tax deductions available for landlords in the UK?
Are there any tax deductions available for landlords in the UK?
Yes, landlords can claim deductions for allowable expenses such as mortgage interest, property maintenance and repairs, letting agent fees, insurance, and certain legal and professional fees.
Is there a tax-free allowance for rental income in the UK?
Is there a tax-free allowance for rental income in the UK?
No, there is no specific tax-free allowance for rental income in the UK. Landlords must declare all rental income they receive and pay tax on it according to the relevant tax bands.
What is the Section 24 mortgage interest relief restriction?
Can an e-commerce accountant help me with international sales?
Yes, many e-commerce accountants are experienced in dealing with international sales and can assist with issues such as currency conversion, international taxes, and global business regulations.
Do landlords have to pay Capital Gains Tax (CGT) when selling a rental property?
Do landlords have to pay Capital Gains Tax (CGT) when selling a rental property?
Yes, landlords may be liable to pay Capital Gains Tax when selling a rental property if the property has increased in value since they acquired it. However, there are certain reliefs and allowances available, such as Private Residence Relief and Letting Relief, which may reduce the CGT liability.
How is Capital Gains Tax calculated on rental property sales?
How is Capital Gains Tax calculated on rental property sales?
Capital Gains Tax on rental property sales is calculated based on the profit made from the sale, i.e., the difference between the selling price and the original purchase price, after deducting allowable costs such as estate agent fees and improvement costs.
Are there any tax implications for furnished vs. unfurnished rental properties?
Are there any tax implications for furnished vs. unfurnished rental properties?
Yes, there are different rules for tax deductions and allowances for furnished and unfurnished rental properties. Landlords letting furnished properties can claim a 'wear and tear allowance' or choose to claim for the replacement cost of furnishings.
What tax obligations do overseas landlords have in the UK?
What tax obligations do overseas landlords have in the UK?
Overseas landlords renting out property in the UK have the same tax obligations as UK resident landlords. However, they may have additional requirements, such as appointing a UK tax representative and adhering to Non-Resident Landlord (NRL) Scheme rules.
How should landlords report their rental income and expenses to HMRC?
How should landlords report their rental income and expenses to HMRC?
Landlords must report their rental income and expenses to HMRC by completing a Self Assessment tax return each year. They should keep accurate records of all income and expenses related to their rental property throughout the tax year.
Partners that grow your business
Our Partners





