AccountingPreneur are the accountants you need if you are investing in the property market.
Complying with tax obligations and navigating the tax rules around property is one of our specialities. If you need tailored advice and accountancy services, then you are on the right website.
We are specialist property accountants and property tax advisers helping Buy To Let Landlords, property developers, property investors and other property related businesses such as estate agents, architects, consulting engineers and chartered surveyors build their business and keep up to date with tax changes which includes the removal of mortgage interest relief.
Many people, once the family have grown up and left home have a spare bedroom. This room can be rented out under the rent a room scheme, which allows you to earn up to £7,500 tax free. Although certain tax rules can change that. Personal tax returns will need to show any earnings from property. Our property accountants can guide you through this scheme to allow you to keep the most profit from it.
Buy to let
The buy-to-let market is safe to invest in as there will always be a demand for rental property. The market is resilient and profitable and a popular way of generating a steady income. There are landlord responsibilities that you should be aware of before investing, though many people find owning a buy-to-let relatively easy. Rules around personal and property tax on buy-to-let income are a little complex and depend on what other activities you are involved in. At AccountingPreneur our property accountants are ready to advise you as you build your buy-to-let property portfolio.
House of multiple occupancy (HMO)
HMOs are very popular in student cities, they bring the highest property investment returns. HMOs are an excellent investment, however, the rules around owning and running them are strict. Landlord responsibilities in the case of an HMO are stringent and there to protect your tenants. To earn the highest profits, you need to be able to not only remain compliant with tax obligations but also know where to save on unnecessary expenditure. At AccountingPreneur we have the expertise to help you get the maximum returns of your property empire.
Running a Bed & Breakfast/ Hotel
The profits from a temporary stay property can be high. Renting out several rooms by the day means a high turnover of occupants. Rules around running such establishments cross over into business and corporate tax territory. You will need the best in property advice before embarking on such a venture.
Buying and selling property, with or without doing any updating work on the property is called ‘flipping’. House prices rise rapidly, this means that a house bought today will be worth more tomorrow. Capital gains tax is one of the taxes you will need to pay in this instance. Many investors buy property and leave it dormant to increase in worth before selling it. Others like to do some work on the property to increase its value even faster. Upgrading bathrooms and kitchens are examples of such work. This is where tax savings can be made.
Serviced apartments are similar to a hotel, in that there is fresh bedding and towels and a cleaning service. People usually stay for a short-term whilst working away from their main residence. These are becoming more popular as people demand more space and privacy when away from home. As an investment they are a solid return and there are agencies that will take on the servicing part for you. They then become a passive income with little work required from the landlord. Taxation and accountancy are not so simple and it is best to get advice from property accountants such as ourselves. Setting you up as a furnished holiday let will mean you can reap the profits and complete your tax returns.
There are a lot of empty dormant buildings in the UK. Many of them are large commercial factories and offices. Turning them into domestic dwellings can be extremely profitable. If you have a large investment opportunity then this is one area to really
Taking a plot of land and building homes or commercial buildings on it is not for the faint-hearted, though the profits can be huge. However so are the taxation obligations to which you must comply. There is a maze of tax rules that you can take advantage of to maintain the highest profits. As property accountants, we are in the right position to guide you through.
These are accountants specialising in tax concerns in the property investment market. They understand how taxation rules change when you own more than one property and the complexities of having tenants in those properties. Stamp duty, VAT and Corporation tax are some of the various tax systems with which you will need comply. If you are involved in property flipping, conversions or renovations then the construction industry scheme may also help you avoid overpaying tax on materials. We at AccountingPreneur have a wealth of experience in property accountancy and are property tax specialists so are able to explore the advantages that property investment can bring you.
Our specialist property accountants and property tax advisers can help with:
- Property bookkeeping, payroll and statutory accounts, cash flow planning
- Personal tax advice for private BTL landlords
- Property tax advice and tax planning
- Residential and commercial properties
- Capital allowances on refurbishments
- Holding properties in a limited company and mortgage considerations
- Non resident landlords (NRL)
- BTL mortgages including Limited Company BTL mortgages through our FCA regulated broker
YOUR PROPERTY TAX TEAM
For further information, or to arrange a free introductory meeting, please contact us on 020 7419 6538.
* Please note we do not provide free property related tax or accounting advice.