Landlords

We act for numerous landlords and have done so for many years. Some have portfolios of property. We supply an income and expenditure account, a balance sheet and a general ledger which details how all the figures are made up. The income and expenditure account flows through to the Tax Return while the balance sheet records all the capital transactions. This can then be used to calculate any Capital Gains Tax arising when the property is disposed of.  Each year we advise our client landlords of changes in tax legislation such as the new rules on claiming for replacement of domestic items and the higher rate restriction on mortgage interest. Where the client wants bookkeeping software we suggest VT Cashbook which is free. Examples of our charges are below.

Client A.

This client has one property, a full-time employment and a small amount of investment income. Each year he sends over an email with a pdf of his P60 and a summary of his rental income and related expenses categorised in accordance with the Tax Return headings on the property supplement. He also lists his taxable investment income.  We can usually do this type of Return very cheaply. This client would use our basic package.

Add another £100 plus VAT for each extra property and £100 plus VAT if the property is owned jointly with a spouse and they require a Return.

Client B.

This client has one property, a full time employment and a small amount of investment income. Each year he sends over an email with a pdf of his P60 and a summary of the expenses he has incurred categorised in accordance with the Tax Return heading on the property supplement.

He also lists his taxable investment income.  The rental income is detailed on agent statements which he also supplies.  This requires a little more work as the statements have to be analysed and any queries resolved. Our standard package will be suitable for this type of client.

Add another £100 plus VAT for each extra property and £100 plus VAT if the property is owned jointly with a spouse and they require a Return.

Client C.

This client has one property, a full-time employment and a some of investment income. Each year we have to chase for the information which arrives in drips an drabs.  Items are missing and we are constantly sending reminders. Our premium package covers this situation.

Basic package £175 pa.

  • Self-Assessment Tax Return (One employment and 5 investments).
  • Tax calculation and note of what and when to pay HMRC.
  • Rental accounts prepared from your summary details.
  • Submission of Return to HMRC and confirmation to you.
  • Annual review of your tax position.
  • PDFs of Tax Data's quarterly and budget newsletters.
  • Reminder emails/telephone calls (max. 5).

Add another £100 plus VAT for each extra property and £100 plus VAT if the property is owned jointly with a spouse and they require a Return.Capital gains estimates at £100 per hour plus vat.

Standard package £250 - £350 pa.

The exact fee will be detailed on your engagement letter based previous year’s work or our initial discussions.

  • Self-Assessment Tax Return (One employment and 15 investments).
  • Tax calculation and note of what and when to pay HMRC.
  • 4 hours bookkeeping. This should be sufficient for extraction of rental income and expenses from agent's statements and your notes of cash expenses and interest paid for one property.
  • Rental accounts including a rental income and expenses account, a balance sheet and general ledger report.
  • Submission of Return to HMRC and confirmation to you.
  • Annual review of your tax position.
  • PDFs of Tax Data's quarterly and budget newsletters.
  • Reminder emails/telephone calls (max. 10).

Add another £120 plus VAT for each extra property and £100 plus VAT if the property is owned jointly with a spouse and they require a Return.Capital gains estimates at £100 per hour plus vat.

Premium package £350 - £600 pa.

  • Self-Assessment Tax Return.
  • Tax calculation and note of what and when to pay HMRC.
  • Full bookkeeping service from your own and the agent's records.
  • Rental accounts including a rental income and expenses account, a balance sheet and general ledger report.
  • Submission of Return to HMRC and confirmation to you.
  • Annual review of your tax position.
  • PDFs of Tax Data's quarterly and budget newsletters.
  • Reminder emails/telephone calls.
  • Tax, accounts and bookkeeping advice.
  • Capital gains calculations.

We do all the work and just need the records from you.

Published on: 9 March 2017

Updated 8 February 2018