Landlords have unique tax obligations and requirements that can be confusing without proper guidance. Seeking landlord tax advice can help you understand these obligations and requirements, as well as optimize your financial benefits and streamline the process of managing rental properties. If you need advice or are looking to minimise your tax on rental property income, we can help. With over 35 years’ experience in chartered accountancy, we are proud to provide clients with clear, actionable advice.
Our Landlord Tax Advice Services
Minimising Tax On Your Rental Income
As a landlord, you can deduct certain expenses related to your rental property from your taxable income. These expenses can include marketing, insurance, compliance costs, mortgage interest, repairs, and maintenance costs.
We know that helping our clients make the right decisions can make significant savings on their rental income. One of our roles is to identify qualifying expenditure to offset against your rental income to ensure you get the most out of your investment, and any allowable expenses are as tax efficient as possible.
Our guide on how to minimise tax on your rental income is a good place to start.
Property Tax Advice
Whether you’re new to property or a seasoned landlord, it is important that you are aware of your financial responsibilities and access the property tax advice you need. We help you navigate these responsibilities with care and personable service. For example, if you rent out a residential property as a business, you may be liable to:
- Pay Income tax on your rental income
- Pay Corporation tax if the property is held within a limited company (SPV)
- Pay Capital Gains Tax if you sell it
As tax advice experts, we can advise you on latest legislation and the tax you are liable for to help you stay on top of finances.
We can help with a wide variety of questions, queries and financial processes associated with being a landlord, your tax liabilities and your taxable income. This includes:
- HMRC related queries
- Options around limited company ‘Special Purpose Vehicles’ (SPVs)
- Personal tax relief
- Landlord tax return advice
- Self-assessment tax return
- 60 day returns on Capital Gains Tax
- Corporation tax for property SPVs (limited companies)
We help you to correctly determine your rental income to ensure that you pay the correct amount of taxes. This includes not only your monthly rent but also any additional income from services or amenities provided to tenants.
As leading providers of tax advice in the UK, we are the trusted property tax accountant for many landlords and those in the property business across Leeds, the North of England and beyond. Our specialisms include residential property tax and assisting landlords with tax issues and queries in the buy-to-let sector.
The team at Leon & Company pride themselves on a proactive service that provides clear, up to date advice. Our clients are more than just a number. In order to offer genuine, helpful advice, it is important that we take the time to understand your needs and requirements as a landlord.