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Property and Landlords

Expert accountants in Weston-super-Mare for property owners and landlords

At PW John & Co accountants in Weston-super-Mare we understand that for many property owners or landlords, rental income may not be your primary source of income.

Trying to keep on top of your annual accounts and tax returns whilst pursuing a career, managing a business or simply juggling a busy life can prove stressful and time consuming. And even if property is your full-time occupation, slaving over the books may not be the best use of your time.

Our team of experts can help you to manage your annual accounts, tax returns, book keeping, tax planning, VAT and/or payroll.

Do property landlords need an accountant?

Property landlords are not required by law to hire an accountant. If you’re confident that you can deal with your own finances, it is possible to prepare your own accounts and tax returns.

However, an experienced property accountant will be able to help you minimise tax and maximise profit on your rental properties.

What do property accountants do?

Our team of expert property and landlord accountants will prepare your annual accounts and tax returns whilst ensuring that your rental property is as tax efficient as possible.

We will keep you up to date with any changes in compliance or legislation, advise you on tax relief for landlords and assist you in managing your portfolio of properties.

Accounting for landlords

Landlords must prepare annual rental accounts and declare their rental income on their annual self-assessment tax return.

Our expert landlord accountants can assist with:

  • Preparation of annual rental accounts
  • Preparation and submission of self-assessment tax returns
  • Capital gains tax calculations and reporting
  • Pro-active tax and legislation advice
  • Assessing allowable rental expenses versus capital expenditure

Accounting for property developers

Property developers can either operate as self-employed or as a Limited Company.

Please contact us to discuss which option would be best for you.

Accounting for self-employed property developers

If operating on a self-employed basis you must file an annual self-assessment tax return. If you run a payroll, you must also submit real time reports to HMRC.

Our experts can assist with:

  • Annual accounts and self-assessment tax returns
  • Book keeping
  • Tax planning
  • VAT
  • Payroll
  • Finance or growth strategy

Accounting for limited company property developers

If operating as a Limited Company you must file company accounts to Companies House every year, regardless of whether your company is active or dormant. If trading you must also submit a corporation tax return. If your business has employees you will need to run monthly or weekly payrolls and submit real time reports to HMRC.

Our experts can assist with:

  • Company incorporation
  • Annual accounts and corporation tax return
  • Company secretarial services
  • Book keeping
  • Tax planning
  • VAT
  • Payroll
  • Finance or growth strategy

Accounting for property management companies

Property management companies must submit annual accounts to Companies House and may be required to submit an annual corporation tax return to HM Revenue & Customs. You must also submit an annual confirmation statement to Companies House.

Our experts can assist with:

  • Preparation and submission of the annual accounts
  • Preparation and submission of corporation tax return when applicable, or notify HM Revenue & Customs when not applicable
  • Company secretarial services

Contact our team of property and landlord accountants in Weston-super-Mare

Please contact us to find out how our expert property and landlord accountants could help you. Or book a free consultation to discuss your requirements in more detail.

We look forward to hearing from you soon!