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Many business owners in the UK are unaware of the various tax efficiency strategies available to them — and they often end up paying more taxes than necessary as a result. Are you leaving money on the table and are not aware of it? Here are some insider tips from specialist tax advisors in London at Allenby Accountants to help you minimise your business’s tax burden legally.

Maintain accurate records

Firstly, ensure that every business expense is meticulously recorded to claim allowed deductions and lower your taxable income. This involves logging costs like rent for your office, insurance for your business, promotional activities, and utility bills. Preserve all receipts and invoices to substantiate your expenses. Be sure to keep your personal spending entirely separate from business expenditures.

Make pension contributions

Contributing to a pension fund not only grows your retirement savings but also lowers your taxable income. You can get tax relief on these contributions, capped by your annual allowance of £60,000. This strategy offers two-fold benefits: it helps you prepare for the future while reducing the tax your business needs to pay.

Utilise the VAT flat rate scheme.

If your annual income stays below £150,000, the VAT Flat Rate Scheme might be useful for your business. This scheme eases your VAT calculations and can reduce what you owe. Instead of itemising VAT on every sale and purchase, you pay a fixed rate on your total income. This rate varies by industry, allowing you to keep the difference between your billed VAT and the amount paid to HMRC.

Seek professional advice

Engaging with tax advisors in London can be one of the wisest choices for a business owner.

The tax advisors in London of Allenby Accountants provide tailored advice to help you fully understand and use tax-saving options. Our guidance will help you comply with HMRC regulations and avoid penalties while minimising your business’s tax burden.

For focused and clear support, reach out to us at info@allenbyaccountants.co.uk.

Being a landlord is not as easy. Whether you own just one or several rentals, you will find yourself with many responsibilities that can take your attention away from accounting and other finance-related matters. It’s always prudent to hire property accountants to handle your accounting and bookkeeping.

At Allenby Accountants, we can provide a qualified property accountant to take away the hassle of record-keeping and HMRC enquiries. We offer all the services property owners require to streamline landlord responsibilities. With our help, you can have a more rewarding and smoother landlord experience.

Supporting landlords in London

We aim to be your risk analyst and financial advisor to help maximise your rental property’s potential. Our specialist accountants believe in meticulous planning and creating tailored business plans to help landlords raise profits. We understand how volatile the property market can be and how high the risk factors can be, so we customise our services to help you optimise your resources.

Our property accountants can assist you with any property-related tasks. Whether it’s about taxation, surveying, revenue generation, or any transaction, we will provide the review reports and analytics you need. Our goal is to eliminate the guesswork from your finances so you can focus on running your business worry-free.

What we provide

Below are some of the ways we can support landlords in London:

• VAT planning
• Financing property transactions
• Capital gains maximisation and implications
• Land tax or stamp duty
• Treatment of tax related to renewable projects or renting
• Allowances

Our accountants can also assist with estate and inheritance tax planning. This makes us a one-stop source for all accounting and tax-related needs for landlords.

Don’t waste money and time on taxes.

Are you paying more tax than you should? Our property accountants can also help you save on rental income taxes. We will consider all your possible expenses, including travelling between various properties, making phone calls, and stationery, to identify deductible expenses, like council tax, ground rent, and interest in mortgage payments. We may also help you deduct maintenance and repairs, accountants’ fees, and letting agents’ fees.

Request a quote

Book a free initial consultation with us and get a quote by calling 0208 914 8887. We will be happy to discuss how our services can support landlords like you.

From small bed and breakfasts to large global chains, all hospitality businesses — despite their size differences — face some common challenges: they need to operate around the clock and maintain accurate financial management to maximise profitability and optimise resource allocation. If you’re in this industry, it’s prudent to work with hotel accountants who understand the nuances of revenue streams like room rates, occupancy management, and food and beverage so that they can develop data-driven strategies to control costs and identify areas for increased revenue.

The benefits of consulting expert hotel accountants

One of the main challenges for hotel owners and managers is the fast-paced nature of hotel operations, which requires attention to daily tasks and customer needs. This is true whether managing a small hotel, guesthouse, or bed and breakfast.

It is tough to keep focused on long-term financial goals when you are busy with everyday work. However, having clear and reachable targets is necessary for growth. Knowing the steps needed to reach these goals becomes easier with guidance from hotel accountants.

Hotel accountants can do much more than handling basic financial statements and taxes. They help you use your annual investment and capital allowances better. They can also reevaluate your property’s worth, explore different funding options, have a reliable bookkeeping system, and change how you manage cash flow to prevent delays or debts.

More than this, they understand the impact of inherent seasonality on hospitality businesses. Often, hotels experience peak seasons with high rates and full occupancy, followed by quieter periods relying on reserves to cover expenses. Specialist accountants can collaborate with your business to identify new revenue opportunities or restructure finances to cushion against the lull of off-peak months.

Even more proficiently, hotel accountants can make sure that compliance is always met. They are well-informed about regulations from HMRC and Companies House that apply to the hospitality industry, such as VAT, national insurance for employers, and corporation tax.

As a hotel owner or manager, you know it takes more than providing accommodation to make your guests comfortable and happy. It requires a clear vision and precise management to balance everyday needs with long-term goals.

Put your trust in Allenby Accountants.

When it comes to managing finances, why not leave it in the hands of professionals? With expertise in hospitality accounting, Allenby Accountants can help you achieve your financial objectives with confidence. Call their team at 0208 914 8887 or email them at info@allenbyaccountants.co.uk for a consultation today.

Are you considering opening a hospitality business or already have one? Either way, it’s important to grasp how vital accounting is in this sector. Success in the restaurant industry largely depends on effective financial management. Here are the top three reasons why hospitality accountants are crucial for your business.

Compliance with HMRC and Companies House

Maintaining precise financial records and adhering to regulations from HMRC and Companies House is an accountant’s major role. The hospitality industry is subject to multiple taxes, such as VAT, national insurance for employers, and corporation tax, among others.

A specialist hospitality accountant like Allenby Accountants will manage these complex tasks and help make sure that:

• submissions are accurate and timely,
• you’re taking advantage of all possible exemptions and deductions to reduce tax liabilities and
• Your business will be updated on any new regulations or changes.

In the event of a tax investigation, they can represent your business, liaising with HMRC and providing all required documentation to fulfil the enquiry.

Bookkeeping

Within the hospitality sector, accurate bookkeeping is essential due to the frequent cash dealings. Engaging qualified hospitality accountants means all financial transactions — whether from guests or suppliers — are accurately noted to foster clarity in your financial records. This approach ensures every penny is tracked, maintaining a transparent and trustworthy accounting system.

Financial performance analysis

Profitability is critical for any enterprise, and this holds true for the hospitality sector as well. Accountants serve an essential role by inspecting expenses and finding ways to make processes better and more efficient. Using modern cloud tools, they observe and record outlays on staff, supplies, utilities, and upkeep. They provide businesses in the hospitality industry with key ideas on how to save costs and enhance overall financial performance.

These are only three of the many reasons why hospitality accountants are essential for your business. For professional financial guidance and support, trust Allenby Accountants to cater to your needs. Email us at info@allenbyaccountants.co.uk or visit our website at www.allenbyaccountants.co.uk for more information.

Remember, effective financial management can be the deciding factor in your business’s success. Make sure you have reliable hospitality accountants on your team to ensure smooth operations and maximise profits.

Many businesses end up paying more in taxes than necessary because they don’t have access to specialised tax advisors in London. If you want to minimise your business tax bill, save money, and reduce your financial burden, we are here to help.

Our team here at Allenby Accountants can provide tailored advice to reduce your taxes legally. We understand that your business is unique from others in your industry, and this is why we take the time to learn your requirements and challenges and address them with tailored solutions.

Below are some tax efficiency strategies we may recommend depending on your case:

Choose an appropriate business structure.

Are you just starting out? The best time to approach our tax advisors in London is during business structuring. We can advise you on different options and how your choice affects the types of taxes you will pay.

Establish different categories for limited company shares.

Do you own a limited company with different share classes? You may choose to award dividends to one class instead of the other or declare different dividends for every share class. This may add flexibility for tax-efficient profitability.

Claim benefits for your business

If you use your home, computer, mobile phone, or vehicle for personal and business purposes, you could claim the business element of expenses reasonably and fairly. Our tax advisors in London can also recommend using your vehicle only for personal purposes and claiming business mileage via HMRC-authorised mileage rates. If you use your home to run your business, you may be eligible to claim a portion of expenses, such as insurance, mortgage interest, rent, general repairs, and council tax.

Need more advice?

We can review your case and recommend more specific strategies to reduce your tax burden. Just call 0208 914 8887 to book a free, no-obligation consultation with one of our tax advisors in London.

It doesn’t matter how many rental properties you have and whether they are commercial or residential. If you cannot manage your accounts and books, your business could suffer down the road. You might even need to deal with the HMRC. Thankfully, you don’t have to navigate landlord responsibilities on your own. Our property accountants will provide the support you require for a more rewarding and smoother landlord experience.

With Allenby Accountants, you won’t have to worry about accounting and bookkeeping. You can leave those to us while you focus on your tenants and rental properties. We have years of experience helping property owners with carefully tailored service plans to reduce expenses, ensure timely and correct tax filings, and maximise tax efficiency. Read on to understand how our property accountant can support you.

Reduce your expenses

Are you spending more tax on rental income? Our property accountants can look into all possible expenses incurred from travel, phone calls, letting agent fees, council tax, service charges, maintenance, and repairs. We can identify deductible expenses to increase your savings.

Do you own a property as a Joint Tenant with your partner? If an income gap exists between your earnings, we can allocate rental income to the partner with the lower income to avoid a higher rate tax band.

Our property accountants can also advise you on tax-efficient ownership for buy-to-let property. We will help you navigate the updates to the rental income tax structure for these properties so you can increase your profits and save more down the line.

Discover LESA 

At Allenby Accountants, our property accountant is qualified to assist in filing a claim for the Landlord’s Energy Savings Allowance. This lets you claim against expenses on energy-efficient measures, such as draught-proofing, loft insulation, tank and pipe lagging, and solid wall insulation. You could get up to £1,500 on every dwelling.

Comprehensive support for landlords

Our property accountants are also qualified to liaise with the HMRC, negotiate favourable terms, and file tax returns. We also work with landlords who live outside the UK and those who want to take advantage of the rent-a-room allowance.

Contact us today for a free, no-obligation consultation to learn more about our landlord services. Call 0208 914 8887 or request a quote here.