For those who rent out a property, preparing tax returns and dealing with HMRC can seem a bit of a headache, but one that can be dealt with quickly and efficiently by Action Accountants. We have extensive experience preparing rental accounts and tax returns for clients whose interests range from just one rental property to multiple property long term and short term lets.
Our rental income service will:
- Residential (furnished and unfurnished). It is essential that you declare your rental income or loss as HMRC are actively seeking out non-disclosure of rental income in order to recover unpaid tax in thisarea.
- Commercial. We ensure that proper records of your rental income are kept and tax returns filed in accordance with tax law, as even if a profit is not made, a disclosure must still be submitted to HMRC.
- Rent-a- room. We minimise your tax liability as much as possible by using capital gains reliefs associated with rental properties, and by making use of beneficial tax planning in conjunction with your othersources of income.
- Furnished holiday lettings. We will save you time, worry and money by handling your self-assessment for you. We will do all the necessary computations, complete your return, and submit it promptly and accurately to HMRC.