A landlord like yourself may be busy managing your portfolio of rental properties. As a result, you might not have enough time to do administrative work until the last minute. One of the essential tasks that you are most likely to neglect is bookkeeping, and that’s understandable because you might find reconciling expenses and filing receipts boring and repetitive tasks. However, that could easily put your accounting in peril. In that case, you might want to hire accountants for landlords to assist with your accounting and bookkeeping needs!
With accountants, you can establish a robust and reliable real estate accounting system that will keep your business running smoothly and make sure that you can get the most from your investments. Moreover, they can take your mind off administrative tasks, so you can focus on making profit and ensuring the best service to your tenants.
Save money and time with specialised accounting services
Regardless of the number of properties you own and manage, you can rely on accountants for landlords to eliminate the hassle of dealing with the HMRC and keeping records. Their services could help you save money on taxes on rental income. By considering all possible expenses you are incurring, they could potential maximise the deduction of your expenses. If you and a partner are joint tenants, own the property, and there is an income gap between you, more rental income could be allocated to the partner with the lower income to avoid going into a higher rate tax band!
Doing more for you
Besides helping you become more tax efficient, accountants for landlords could help you file a claim for LESA (Landlord’s Energy Saving Allowance), declare past rental profits, help file your tax return, and represent your case with the HMRC, in case there is an error in their calculations or the wrong tax code was applied. Seasoned accountants can also help landlords who are living outside the UK and are looking to avoid tax deductions.
You can learn more on what accountants for landlords can do for your portfolio management by contacting them for a consultation. Reputable companies offer a free, no-obligation consultation!