Landlord Accounting Services
Your own online landlord accountant
All returns and filing included
Unlimited help and advice
Leading cloud accounting software
Real-Time Bookkeeping
Reminders – never miss a deadline
Your own online landlord accountant
All returns and filing included
Unlimited help and advice
Leading cloud accounting software
Real-Time Bookkeeping
Reminders – never miss a deadline
We can offer many Landlord accounting services including help with registering the landlord business and offer ongoing support and assistance going forward. We also regularly review your landlord business to see whether it is operating in the most tax efficient way.
You are provided with leading accounting software which will help reduce the time it takes to – provide quotes and invoices to customers, chase payments, and monitor outstanding balances.
Tax & Accounting packages tailored to suit your Landlord business. We are always straightforward in our services & pricing. We take care of your accounting and let you get on with making your business a success.
Landlords tend to be small businesses and so need as much help as possible from their accountant. This is why our Landlord accounting service offers unlimited help and advice throughout the year, included within the monthly payment.
We send regular automated reminders to inform you of when your accounts and returns are due to be submitted, helping to ensure you never miss a deadline for your small business again.
Get started with the right accounting solution for your business
Get started with the right landlord accounting solution
Our accredited accountants have a range of qualifications from the Association of Accounting Technicians (AAT), Association of Chartered Certified Accountants (ACCA) and the Institute of Chartered Accountants in England and Wales (ICAEW). We are also an Institute of Certified Practising Accountants (ICPA) accredited firm, and a HMRC registered Agent.
Get started with the right accounting solution for your business
A Landlord is an individual who rents out a property they own under a lease or a licence that is shorter than seven years.
If you receive rental income that exceeds your total expenses, allowances and reliefs, then you are required to pay tax on this income by submitting a tax return. If your rental property generates a loss, you may want to voluntarily disclose it because this allows you to make use of the loss in the future should the property turn profitable.
If you do own and personally use more than one property in the UK, it is possible to make an election to nominate which property should be treated as your main residence for tax purposes. We can advise on the implications of making such an election, the qualifying conditions that must be met and help to decide if it would be beneficial for you depending on your personal circumstances.
There are strict time limits for making this election, which has to be filed with HM Revenue & Customs, so it is important that advice is sought promptly.
If you have Capital Gains Tax to pay, for example because you’ve sold or given away a holiday home or second property, you will need to complete a tax return.
Accounting Wise can advise you on any tax planning opportunities available, in order to minimise your Capital Gains Tax liability. We can also calculate your Capital Gains Tax liability and complete your tax return for you.
If you rent out property you will pay income tax on the difference between the rents you have charged in a tax year, less any allowable expenses and charges. We can help you to make sure that you are claiming all of the expenses and reliefs you are entitled to.
Knowing what maintenance and repairs can be deducted can be tricky, because there are a number of different methods that can be used depending on your circumstances. We can discuss your options with you and make sure that you make the right choice; to optimise your tax position and fit your needs.
We can also make sure that you are claiming all of the finance costs for any loans or mortgages you have on your properties, as again, this can be a complicated area and taxpayers can miss out on valuable tax relief.
Significant changes were made to the treatment of Furnished Holiday Lets (FHLs) for tax purposes in April 2012. The conditions in order to qualify for such treatment are now more stringent and the benefits have been reduced.
We can advise you on the qualifying conditions and the implications that such status entails for your properties.
If you let rooms in your own house, you may not pay tax if the total rents charged are under £4,250 per tax year. But there are conditions in order to apply this exemption, which your Accounting Wise accountant can discuss with you.
We can provide you with advice regarding all tax aspects of buying, selling and letting property. We have only included a few areas for you to consider on this web page. If you are about to invest in, dispose of, or let property do give us a call.
Get started with the right landlord accounting solution
Do I need to register with HMRC as a landlord?
Yes, if you receive rental income, you must register for Self Assessment with HMRC and submit an annual tax return, even if you don’t make a profit.
Can I claim expenses as a landlord?
Yes, landlords can claim allowable expenses to reduce their tax liability. These include property maintenance, insurance, letting agent fees, mortgage interest (subject to restrictions), and repairs.
How do I pay tax on rental income?
Rental income is taxed through Self Assessment. Landlords must report their rental income, allowable expenses, and profits to HMRC each year. Income tax is then calculated based on these profits.
Do I need to file a tax return if I make a loss as a landlord?
Yes, even if you make a loss, you should file a tax return. Rental losses can often be carried forward to offset future rental profits, reducing future tax bills.
Do landlords need to register for VAT?
Generally, rental income from residential properties is exempt from VAT. However, landlords dealing with commercial properties may need to register for VAT if their rental income exceeds the VAT threshold.
How does tax work for joint property ownership?
For jointly owned rental properties, rental income and expenses are usually split according to ownership shares. Couples who are married or in civil partnerships can elect to split income differently, typically to optimise tax efficiency.
Can I claim the cost of improving my rental property?
Improvements (e.g., adding an extension or renovating a kitchen) are considered capital expenditures and can’t be claimed as an expense against rental income. However, they may reduce your Capital Gains Tax bill when you sell the property.
What records should landlords keep for tax purposes?
Landlords should keep records of rental income, receipts for expenses (e.g., repairs, insurance, mortgage interest), and any correspondence with tenants. These records must be kept for at least five years after the Self Assessment tax return deadline.
What happens if I don’t declare rental income?
Failing to declare rental income can result in penalties and interest from HMRC. If you realise you haven’t declared it, you can make a voluntary disclosure to HMRC, which may reduce penalties.
Do I need an accountant as a landlord?
While not legally required, many landlords use accountants to help with tax returns, maximise tax efficiency, and ensure compliance with UK tax laws. An accountant can also assist with complex situations such as joint ownership or property sales.
1 Choose Your Package
Pick the landlord accounting services that you would like from either our pre-built packages or build your own to find out exactly how much you will be paying each month.
2 Sign up with Us
Once you have picked your level of service you’ll simply need to send over a few extra details to register with us via our sign up form or over the phone
3 You’re ready to go
That is it, we will begin to set your limited company services up for you, contact your previous accountant if required, and begin the authorisation process with the HMRC