Property Income & Expenditure
Simple and stress-free property tax advice and tax planning.
Our aim is to always provide our clients with a smooth and efficient landlord and property accountancy service. We value customer service and will always try to make ourselves available to discuss your property tax obligations.
We frequently work with landlords of all property types, including commercial, residential and holiday lets. Property is one of our specialist areas, offering advice on the tax implications of buying, selling and letting.
Property Income and Expenditure Statements
If you have an investment property that you are letting, you will need to pay tax on the surplus income. Our team can assist you with filing your annual statements and tax compliance in respect to your properties. We have an extensive knowledge of tax in respect to property and can help you meet all of your obligations.
If you are a non-UK Resident, we can advise on the Non-Resident Landlord Scheme. If approved by HMRC, you will no longer need to have tax withheld on the income you receive from your letting agent.
Tax Structuring for Your Investment Property Portfolio
It’s easy to overlook the tax implications of investment properties. So, if you are looking to invest in a buy-to-let or if you are looking to resell for a profit, it’s essential to plan ahead.
Such investments require strategic planning and the right tax structuring to maximise the return on your investment. That’s where our team can help. Using our financial foresight, we can help you to implement the most efficient tax structure whilst remaining compliant.
But, whilst we can help with your overall strategy, we can also help with the day-to-day record keeping. By keeping your books up to date and accurate we can help you to keep track of your investment performance. We can pro-actively spot potential problems that may arise and help you to resolve them before they become an issue.
Company-Owned Property
If your company owns a property, you must include it in your company statutory accounts. This is something that we can help you with, along with filing your Corporation Tax return.
If your company owns a residential property with a value of £500,000 or more, you must also file an ATED. This stands for Annual Tax on Enveloped Dwellings and must be filed for each individual property. This too is something we can advise you on and ensure you remain compliant with HMRC. Visit our ATED Returns page for more information.
Overseas Companies that own property must also file information with Companies House to comply with the Economic Crime Act.
Whether you are an individual with investment property, or you have property owned by a company, we can help. We are fully versed in the rules and regulations laid down by HMRC and can advise according to your circumstances.
Selling a Property
If you are selling a property, you need to be aware of Capital Gains Tax. This tax is payable on the profit made from the disposal of property for both individuals and companies. We’ll help to ensure that you do not pay any more capital gains tax than is required. See our Capital Gains Tax page for more information.
Property Tax Advisors in Stanmore
We are based in Stanmore in Middlesex but work for individuals and companies wherever they may be. If you want to focus less on your reporting obligations and more on growing your property business, we can help. At Michael King & Co, we pride ourselves on our attention to detail, expertise, and dedication to client satisfaction. So, call us today on 020 8954 5879 or send us a message.
Disclaimer
Although correct at the time of writing, content on this site is for informational purposes only and should not be considered as financial or legal advice. Always seek professional advice tailored to your specific circumstances.
