Property investors need good property accountants to form the right tax plan Whether you have one investment buy to let property or many, our specialist landlord accountants will help you stay on top of your finances to ensure you’re operating as tax-efficiently as possible. Why do buy to let landlords pay too much tax on their property portfolios? – Stamp Duty Land Tax (SDLT) overpayments cause by conveyance solicitors using generic HMRC tax calculators without using the SDLT reliefs available. – Value Added Tax (VAT). There are many ways property investors may reduce the VAT charge on residential property refurbishment from 20% to 5%, but many miss this opportunity. – Property profits are being taxed at a very high rate. Section 24 mortgage interest relief cap means that many property investors pay 65%+ income tax on the buy to let investment profits, needlessly. – Capital Gains Tax (CGT) overpayments. This is caused when property investors sell their investments without looking at many CGT tax reliefs. – Our UK landlord tax advisors are here to ensure that you, as a property investor, do not overpay tax on your portfolio. It is essential to build wealth with the correct tax plan. Our property tax advisors are here to help you design and implement this tax plan. Property taxes that landlord need to be aware of Stamp Duty Land Tax (SDLT) A tax is charged when you buy a commercial property or a residential property investment. Value Added Tax (VAT) VAT is charged on the goods and services you use on a property refurbishment. VAT is generally charged at 20% on labour and materials. Capital Gains Tax (CGT) Capital Gains Tax (CGT) is charged when you dispose of residential or commercial property. There are tax exemptions that you need to be aware of. CGT is charged at 10%, 18%, 20% and 28%, depending on your taxable income and the type of asset that you are selling. Tax advice for landlords Are you a current landlord with a rental property portfolio? Are you considering making a property investment to generate extra income? Are you feeling overwhelmed by the myriad rules, regulations and responsibilities that need to be adhered to? Are you concerned that you are at risk of fines and hefty backdated bills from HRMC? Feel like your investment isn’t generating enough rental income as it should be, and your tax liabilities are unreasonably high? It’s hardly surprising. Property investment is an ever-changing landscape and brings with it so many considerations. Luckily, by working with our landlord accountants, you can take advantage of the many tax-saving strategies. A complete landlord accountancy service Our property investor / landlord tax accountants are here to: – Devise the most tax-efficient way of purchasing and managing your buy-to-let property – Maximise each of the tax reliefs, deductions and expenses landlords can claim – Prepare all your accounts and tax returns in full compliance with HMRC rules and regulations – Offer advice on the investment of your rental income and the best ways of offsetting your own mortgage The rules, regulations and subsequent calculations for your property tax, depend on your circumstances and whether you’re renting out a residential property, a holiday letting or a single room in your own residence. Your residential status also has an impact. Our team is equipped to reduce your liability as much as possible whatever your tax position. Why choose our landlord accounting service? Whenever you’re looking to buy, refurbish, sell, let or maintain a property investment, we act quickly and proactively to minimise each type of tax you will face. We use a 100+ point checklist to assess your specific situation and ensure that no potential tax reductions have been missed and that you stay on the right side of the law. We always review the tax position of self-assessment tax returns with our clients. We also provide you with a three to four year forecast of how much tax you’re likely to owe. This is particularly useful given the Section 24 mortgage interest relief cap. This means we can plan as many tax reducing strategies as possible ahead of time. Our subscription-based pricing is easy to understand and always honest. We’ll never overcharge you unnecessarily, and the savings our ACCA and ATT qualified landlord accountants can deliver will significantly exceed our fees. As well as an ongoing relationship with our tax consultants, you can book a dedicated 60-minute landlord tax advice call. In these calls our qualified accountants: – Review your situation – including your properties, income, mortgage payments and your previous tax returns – Identify solutions to minimise your tax bill on your property investments and rental income – Share the call recording and notes from the session so that you can implement the agreed tax reduction strategy immediately As well as being the accountants landlords turn to, we also offer: – CGT accountancy services – Inheritance tax mitigation services – Stamp Duty Land Tax (SDLT) mitigation and refund services How our landlord accountants help property investor like you Tax Consultations Our buy to let property investors love speaking with us about the tax problems as they know that our landlord property accountants are here to provide the best solutions. Our calls are recorded and property tax reports sent with each call held. Property Tax Returns Our landlord accountants prepare and submit tax returns on behalf of our property investors. We have a 100+ checklist to ensure that the tax returns are legally compliant but provide the best tax result for our landlord clients. Webinars We host a number of tax training sessions for our clients. The property tax education events provide landlord clients with the latest tax saving methods that are both legal and ethical.