Specialist Property & Landlord Accounting
Property and Landlords Accounting
Whether it’s your first property, a property you plan to rent or you are a property business with a growing portfolio, ensuring your finances and accounting is up to scratch is vital.
Property is a complex subject, and ensuring you are equipped with the knowledge to navigate your transactions will keep you ahead of the competition and leave you in the best position possible.
The Accountants for Landlords
Our accountants at Cutts & Co know property. We have experience with landlords, property management, property portfolios and clients looking to buy privately, and have a comprehensive understanding of how best to manage transactions and get the most from your tax obligations.
- Years of experience providing landlords with expert accountancy services
- A team that understands the industry
- Services to suit private and commercial clients
- The tax experts for property businesses and landlords
- Accounting made easy with Xero online accounting
- A dedicated, helpful team whenever you need it
What is a Landlord?
A Landlord, defined as someone who leases or licences their property for periods shorter than seven years, is subject to certain tax obligations related to their rental income. If your rental income surpasses your combined expenses, deductions, and tax benefits, you must fulfil your tax liability by submitting a tax return. In situations where your rental property incurs a financial loss, it’s advisable to proactively report this loss. Doing so enables you to carry forward the loss for potential future offsets against profitable property income.
Selling Property - Managing Capital Gains Tax
If you’ve recently sold or transferred a holiday home or second property and are facing Capital Gains Tax, our experts can assist you. We’ll ensure you complete the necessary tax return accurately.
Our team specialises in identifying tax planning opportunities to minimise your Capital Gains Tax liability. We can also calculate your tax liability and handle your tax return on your behalf.
Renting Property - Landlord Tax Matters
As a landlord, you’re obligated to pay income tax on the rental income you earn during the tax year. Cutts & Co can help you maximise your tax benefits by ensuring you claim all allowable expenses and deductions.
Navigating the complexities of deductible maintenance and repair expenses can be challenging, but we’re here to assist you in choosing the right methods for your situation. This ensures your tax position is optimised to meet your needs.
We’ll also ensure you make the most of available tax relief on finance costs related to loans or mortgages on your properties. Don’t miss out on valuable deductions – let us help you.
Furnished Holiday Lets - Tax Considerations
Furnished Holiday Lets (FHLs) underwent significant tax changes in April 2012, affecting eligibility and benefits. Our experts can provide guidance on qualifying conditions and the implications of FHL status for your properties.
Letting Rooms in Your Home - Tax Exemptions
If you’re renting out rooms within your own home and total rents remain under £4,250 per tax year, you may be exempt from paying tax. However, specific conditions apply.
Specialist Landlord Services
Our expert services extend to specialist areas of property and landlord accounting, and we can assist with any circumstances, providing our clients with the support and knowledge they need. Our specialist services include:
- Rent-to-Rent purchases
- Commercial services
- VAT relief
- Planning & Future Wealth
- R&D Relief EG. Disability needs conversions
Of course, our property and landlord clients can also take advantage of our full accountancy services. We provide businesses with bookkeeping and accounts management, innovative online accounting with Xero as well as offering financial director services to accelerate your growth.
We cover all aspects of property and landlord accounting, from bookkeeping through to managing transactions and tax planning, just let us know about your circumstances.
