Why do landlords need an accountant?
Owning and managing properties can be become overwhelming very quickly, even if you’re an experienced landlord with an existing portfolio. With just the day-to-day running of your business taking up a lot of your time, the last thing you want to have to worry about is managing your rental accounts as well. Not to mention how challenging it can be to make sure all your paperwork and tax returns are accurate before submitting to HMRC.
As specialist accountants for landlords, we can offer unlimited advice and support in all areas of accountancy and tax and act as your reliable, long-term financial partner. For example, helping you decide which of your properties is classed as your principal private residence, and ensuring that you meet your Report & Pay obligations when you make a sale. Our team will be on hand throughout your landlord career always ensuring your accounting and tax obligations are met, on time, every time.
How can our accounting services help you?
Being a landlord is not an easy job, whether you’re just getting started in property investment or have already built up a large portfolio.
Jan McDermott Chartered Accountants have many years’ experience in landlord accounting and we can help you at any stage.
Personal or company ownership?
We can advise you on how to own your properties in the most tax efficient manner whether that is owning them personally, through a limited company or in a combination of the two.
Tax Relief on Finance Costs
Tax relief for landlords is a complex area but we make sure you get the the correct amount of relief available to you so that you pay the right amount of tax and not a penny more!
Capital Gains Tax on the sale of a second property
Recent changes to legislation mean that sales of investment properties need to be reported to HMRC within 60 days.
We will do this for you ensuring that you claim any releifs available to you so that you pay as little CGT as legally possible.
How We Can Help
Unlimited professional advice
Our team are on hand to offer you business support and answer any questions about tax and accounts that you may have.
The personal touch
When you’re one of our clients we will get to know you and your business in detail to understand your challenges and help you overcome them with a warm and friendly approach.
Real-time data anytime you need it
Our financial skills and knowledge mean you can have access to real-time financial data and key figures so you can confidently take your business to the next level.
They provide us with a fully outsourced finance function so that our own team can focus on our business. They implemented Xero software from day one of the company meaning that we have real-time visibility of our business at all times, The monthly management accounts meetings we have with Jan really add value to decision-making and strategic planning and we wouldn’t be without them.
Their professionalism, expertise and client care are outstanding and they have supported our growing business no end. They look after everything from our bookkeeping, VAT, annual accounts, as well as claiming Research & Development tax relief, preparing budgets and forecasts and assisting with grant claims. The whole team are always responsive, friendly and reliable and we wouldn’t hesitate to recommend them to anyone looking for a trustworthy and efficient firm to look after their business finance requirements.
I moved my accounts over to Jan at the beginning of the year and have been extremely impressed with her attention to detail and precision. She’s made it easy for me to understand and manage all the key aspects of my accountancy, as well as offering useful suggestions of ways to improve and make things work more efficiently for me and my business. I’d highly recommend Jan and her team to anyone looking for professional, friendly, and reliable accountants that truly get to know you and offer a tailored service.”
Jan McDermott & Co have been our accountants for over 15 years and have not only ensured our accounting records are accurate and legal, but also provided us with first class advice to help us grow. They recommended our move to Xero accounting software which has revolutionised our business, allowing us to create predictable income through the use of Go Cardless Direct Debits, and streamlining our day to day accounting operations. Jan and her team are friendly, easy to work with and take time to understand a particular problem or situation. I wouldn’t hesitate to recommend them to any business that wants an accountancy firm they can grow with and depend on.