SJM Accountancy For Landlords
Principal Private Residence Relief
Are you an existing landlord?
As a landlord, you’ll know that specialist financial advice is crucial to ensure that you comply with your taxation obligations. Tax rules on rental properties are increasingly complex and we can provide you with peace of mind that your accounts are fully compliant. SJM Accountancy Services can keep track of your rental income and expenses, whilst ensuring we minimise tax expenditure and maximise profit on your property interests.
- Manage your Annual Rental accounts
- Complete and submit your Personal Tax Return
- Calculate and advise on tax due to HMRC
- Consultancy about tax reducing methods
- Capital Gains for sale of properties
- Instruct you as to what paperwork you must keep
- General accountancy and taxation advice throughout the year
- Book keeping services
Are you a new landlord?
If you are new to the private rented sector then you are probably realising that the accountancy and taxation of property is a specialist area. Did you know that any individual who receives income from letting a property is required to declare this to HMRC, even if they don’t make a profit? Our accountant has extensive experience working on behalf of landlords and can assist you in each step of the property investment process. We can use our expert knowledge and careful planning to maximise your rental returns by minimising your tax liabilities.
You can rely on us to help you navigate through the maze of tax relief programs available to reduce your tax liability. Here are a few of the allowances that could be accessible to you:
- Letting Relief
- Principal Private Residence Relief
- Wear and Tear Allowance
We can also help you decide which would be the most beneficial way to conduct your property lettings:
- As an individual
- As joint owners
- Through a Limited Company
- Using a pension scheme