Landlords

If you are a Landlord you are required to disclose the income from your rental property to HMRC even if you have made a loss. Tax Advantage offers a fixed fee hassle free service to Landlords. In the ever changing world of tax it is vital you receive the correct advice and that you are making the correct disclosures to HMRC on your Tax Return, failing to do so can lead to severe financial penalties.

The rules on property businesses have changed over the last few years, big changes have been implemented for Holiday Lettings and the treatment and allocation of losses from your property businesses. Can you afford to get it wrong?

Take the uncertainty away and contact us now and see how we can help you.
We provide full Accountancy and Tax Service for:

Residential Lettings
Holiday Lettings
Foreign Holiday Lettings

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Changes Landlords Need to Know

Landlords have to contend with some major changes to the way they are taxed, the most fundamental of these is the change to mortgage interest relief.

Currently, interest paid on a loan is deducted from rent as an expense.

From 6th April 2017 the way in which interest is relieved will not be as an allowable deduction from rent, but as a tax reducer restricted to the basic rate of tax. It will be phased in over a 4 year period from 6th April 2017 and be fully implemented by 2020.

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April 20th, 2016|

The Property Let Campaign – know where you stand

Knowing what you can and cannot claim as tax relief as a landlord can be confusing.

This can often be the case with mortgage repayments or letting a property out while travelling abroad, for example.

But what many may not be aware of is that the Government is currently running a campaign which allows landlords to declare […]

September 27th, 2015|

Find The Right Mortgage with a Specialist Mortgage Broker

Our clients have often struggled to secure suitable mortgages because of their unique working status. With this in mind we have teamed up with specialist broker Mortgages Made Easy to offer you a straightforward advisory service.

Approaching a bank directly can be very frustrating and stressful for individuals like yourself. Mortgages Made Easy recognised this problem […]

June 25th, 2015|

Landlord Quick Guide

Claiming expenses
Expenses fall into two categories: Revenue and capital.
Revenue expenses may be deducted from the rental income from tax purposes, but only if they have been incurred wholly and exclusively for the rental business and do not fall under a capital expense.
Capital expenses include expenditure such as the original cost of the land, buildings and […]

November 12th, 2014|

Guide to Landlords Expenses

Here we have put together some of the most common questions landlords have about their property business. This information is only a guide and you should seek professional advice before acting on it:

Claiming expenses
Expenses fall into two categories: Revenue and capital.
Revenue expenses may be deducted from the rental income from tax purposes, but only if […]

October 31st, 2014|

Benefits of Owning Property as a Company or Investor

What is a landlord? If you rent out any property then you are a landlord, property encompasses not just buildings, it also covers land. Properties may be residential, retail, retail and residential mix, holiday let, office accommodation, commercial etc. Land could be agricultural, grazing, even the land a property sits on, you may not own […]

October 31st, 2014|

Holiday Lets UK and EEA

If you own holiday homes in the UK and also anywhere within the European Economic Area, EEA, then such losses are not allowed against general income, this was effective from April 2012.

 

If you have losses from a holiday let business this is the last tax year were losses can be set off against general income. […]

October 31st, 2014|

General Information for Landlords

It is vital that you keep accurate books and records. You should be able to produce receipts for any expenses incurred in the running and maintaining of your property as and when HMRC request.

 

To help you do this you should keep a rent book, this can be electronic for example a spreadsheet, a note of […]

October 31st, 2014|

Accountancy fees for income from property

Once you become a landlord and receive income from letting a property you will need to declare your rental income and expenditure to HM Revenue & Custom via self assessment  even if you do not make a profit as a landlord.

Tax Advantage offers cost effective value Tax Return and taxation services to landlords:

For just £110.00 plus […]

October 31st, 2014|

Tax Advice for Landlords

Are you paying more tax than you need too? It is surprising how many Landlords do not realise what expenses they are entitled to claim against their rental income.  Whether you are a new landlord with one property or have a portfolio of properties, you need to be aware of and claim for, all allowable expenses […]

October 31st, 2014|