As a landlord, you'll know that tax is an increasingly complex area and that specialist taxation advice is essential to ensure that you comply with your reporting obligations. If you receive income from letting a property you must declare this to the HM Revenue & Customs, even if you do not make a profit.
At the same time, you need a strategy that enables you to pay the minimum amount of tax on your rental profits. Your strategy should take account of all the tax issues you face, not only as a property investor, but also as an individual who might have further income from your career, your business and your other investments.
As investors ourselves and by having many clients with property portfolios, we have both in-depth knowledge and practical experience of the property sector, which will enable you to maximise rental returns by minimising your tax liabilities.
We can advise you on
• Claiming tax relief on all your property expenses.
• Understanding the tax implications of maintenance and repairs.
• Wear and tear allowance.
• Offsetting over rental losses.
• Advising on what paperwork you must keep.
• Opportunities for married couples holding rental properties.
• Financing your rental property.
• The best structure for holding your rental property.
• Capital Gains Tax.
• Principal Private Residence Relief.
• Letting Relief.
To find out more about our services for landlords, call us today on 0115 928 3228.