Land and Property Accounting

Investing in rental properties is a very popular choice as many people prefer to take a more direct approach to investments for retirement purposes. A successful property investment should ideally generate a sustainable long-term rental income and then subsequently offer a capital gain when the property is sold. Whether you have a sizeable property portfolio or simply own one flat, we can support you every step of the way. Our specialist services include:

Fixed Fee Accounting from only £69+VAT pcm. No costly tie-ins or hidden charges.

Contractax land and property accounting

A good property investment should generate an ongoing rental income, and then a capital gain when the property is eventually sold. Our specialist Land and Property Team can provide you with assistance every step of the way:

  • Accounting for monthly rental income.
  • Preparing land and property accounts.
  • Calculating income tax liabilities.
  • Preparing Tax Returns for HMRC.
  • Preparing Capital Gains Tax Computations.
  • Register and preparing non-resident landlords scheme annual return.
  • Tax planning to reduce present and future tax liabilities.

  • In 2008, HM Revenue & Customs (HMRC) launched a Property Income Campaign, with the purpose of ensuring that all rental property income is reported and taxed correctly. In a case earlier this year, a mother and daughter team in the south of England were found guilty of failing to declare rental income and now face a £600,000+ tax bill plus a prison sentence. It's also important to consider capital gains tax, as HMRC have access to official records detailing sales of property and, interestingly, their investigations last year increased the amount of capital gains tax, interest and penalties collected to over £73 million, despite the recession halving the overall liability for this tax. With such surprising figures, it's important that landlords are aware of how property income and gains are taxed, and what can be done to minimise any liabilities.

    Don’t miss the let property campaign. Let Contractax help you put things right.