Landlord & Property Tax · West London
Landlord accountants in Chelsea
Landlord accounts and tax returns for property owners in Chelsea: £149 for one property, £199 for two to four, £299 for a portfolio of five or more, each including the Self Assessment filing. Fixed fees, published on this page, and the same in Chelsea as in any other part of England.
from £149 · fixed, per year
Next deadlines
- UK residential property disposals: CGT return and payment within 60 days of completion
- UK residential property disposals: CGT return and payment within 60 days of completion
- Online Self Assessment filing deadline and balancing payment due
- UK residential property disposals: CGT return and payment within 60 days of completion
Who this is for
Landlord & Property Tax for Chelsea
Residential and commercial landlords in Chelsea: accidental landlords renting a former home, buy-to-let investors with one to several mortgaged properties, portfolio landlords, joint owners and couples, owners of furnished holiday lets and serviced accommodation, overseas landlords with UK rentals, and anyone who has let a property for years without declaring it and wants to put it right.
What is included
Everything inside the fixed fee
- Rental income and expenses for each property reconciled to agent statements and bank records
- Allowable expenses claimed in full: repairs, insurance, agent fees, ground rent, service charges, replacement of domestic items
- Mortgage interest handled correctly as a 20% tax credit, not a deduction, with the restriction carried forward where it cannot be used
- Joint ownership splits, Form 17 elections and the property allowance applied where they help
- Furnished holiday lets, serviced accommodation and rent-a-room treated under the rules now in force
- UK property pages of the Self Assessment completed and filed, with Making Tax Digital readiness assessed
How it works
Landlord & Property Tax from Chelsea, step by step
Tell us your situation
A short message or call about what you do and what needs filing. We ask the questions that determine the right package and nothing more.
Fixed fee in writing
You receive one price for the work, confirmed by email before anything starts. It does not change if the job takes longer than we expected.
Send records, review the draft
Records come by WhatsApp or email. We prepare the draft, explain the figures in plain English and answer your questions.
We file, you get the receipts
Once you approve and the fee is settled, we submit electronically and forward the HMRC or Companies House acknowledgement the same day.
Why IGI
The IGI way of working, in Chelsea
One fixed fee for landlord & property tax in Chelsea, agreed in writing before any work starts and never changed part-way through the job, however long it takes us.
Nothing for Chelsea is left to the last week. Each deadline relevant to landlord & property tax is tracked from the day you join, with the next four shown on every page we send you.
We serve Chelsea remotely by design: records by WhatsApp or email, drafts back for approval, filing electronic. The saving on premises is passed to you in the fee for landlord & property tax.
A named person handles your landlord & property tax from Chelsea and knows the file, so you are not re-explaining your business to a different helpdesk each time.
The output for Chelsea clients is never just a form. It is the form, a one-page summary of what it says, and a note of the decisions it points to for landlord & property tax.
Approval before filing is a rule, not a courtesy. For landlord & property tax in Chelsea, every submission to HMRC or Companies House follows your written go-ahead.
Local facts
About Chelsea
Chelsea is in West London, within Kensington and Chelsea, in the SW3 postcode district, England. Income tax in England follows the UK rates: 20% basic to £50,270, 40% higher to £125,140 and 45% additional, with the personal allowance of £12,570 tapered away above £100,000. National Insurance, VAT and Corporation Tax are UK-wide, and Stamp Duty Land Tax applies to property purchases.
| Place | Distance | Direction |
|---|---|---|
| St Luke's | 0.2 mi | W |
| Royal Hospital | 0.3 mi | SE |
| Hans Town | 0.4 mi | N |
| Chelsea Embankment | 0.4 mi | SE |
| Brompton, Kensington and Chelsea | 0.6 mi | W |
| Cremorne | 0.7 mi | SW |
| World's End, Kensington and Chelsea | 0.7 mi | SW |
| Battersea Park | 0.8 mi | SE |
Worth knowing
Rules that come up in this work
Switching accountants
You can switch accountant at any point in the year. The new firm requests clearance and your records from the old one, which cannot withhold your own documents though it may hold its own working papers until its fees are settled. Agent authorisations with HMRC and Companies House are transferred, and the next deadline is picked up without a gap.
Closing a company
Striking off a company is cheap but must be done in order: stop trading, file the final accounts and CT600, pay the tax, close VAT and PAYE, distribute the remaining assets, close the bank account, then apply. Anything left in the company at dissolution passes to the Crown. Distributions up to £25,000 are taxed as capital gains; above that a formal liquidation is usually needed to keep capital treatment.
Record keeping
HMRC requires records of all income and expenses, bank statements, invoices and receipts to be kept for at least five years after the 31 January filing deadline of the tax year they relate to, and companies must keep records for six years from the end of the accounting period. Digital copies are acceptable. Under Making Tax Digital the records must be kept in compatible software.
Allowable expenses
The expenses sole traders most often miss are home working costs, claimed by actual proportion or HMRC's flat rate, the business share of phone and internet, mileage at 45p for the first 10,000 business miles, and training that maintains existing skills. The ones most often claimed wrongly are commuting, entertaining customers and clothes that could be worn outside work.
Crypto records and reporting
Most crypto holders have taxable events they do not recognise, because every swap is a disposal even when no pounds change hands. The computation requires the complete transaction history from every exchange and wallet, pooled by asset with HMRC's matching rules applied. Exchange-generated tax reports are frequently wrong because they cannot see transfers between a user's own wallets.
The 60-day property CGT return
The 60-day Capital Gains Tax return on residential property is the deadline landlords most often miss, because it falls outside the Self Assessment cycle and runs from completion, not exchange. Private residence relief for periods you lived in the property, plus the final nine months, reduces the gain. Penalties for a late return mirror Self Assessment, starting at £100.
Dormant companies
A dormant company is one with no significant accounting transactions in the year, where the only permitted entries are the payment for shares on incorporation, Companies House fees and penalties. It still files a confirmation statement and simplified dormant accounts every year. A bank charge or an accountant's fee paid from the company ends dormancy and requires full accounts.
Questions
Landlord & Property Tax questions from Chelsea
I rent out a room in my own home. Is that taxable?
Rent-a-room relief exempts the first £7,500 a year of income from letting furnished accommodation in your main home, or £3,750 each if the income is shared. Above that you can pay tax on the excess over £7,500 or on actual profit. Lodgers, Airbnb rooms and short-term lets of a room all qualify.
I have been letting for years and never declared it. What now?
HMRC's Let Property Campaign allows landlords to disclose undeclared rental income with lower penalties than if HMRC finds it, which with data from letting agents, deposit schemes and councils it increasingly does. We quantify the undeclared years, prepare the disclosure and negotiate the settlement. Acting first is always cheaper.
Should I put my properties into a limited company?
Sometimes. A company deducts mortgage interest in full and pays Corporation Tax at 19% to 25%, but extracting profit costs dividend tax, mortgages are dearer and transferring existing properties triggers CGT and SDLT. It suits higher-rate taxpayers building a portfolio long term; it rarely suits one or two properties. Our tax planning review runs the numbers.
I live abroad and rent out a UK property. Do I still pay UK tax?
Yes. UK rental income is taxed in the UK regardless of your residence, with the personal allowance available to most non-residents. Letting agents or tenants must deduct 20% at source unless you are approved under the Non-Resident Landlord Scheme to receive rent gross. We handle the approval and the annual return.
What is included in the £149 one-property fee?
The rental income and expenditure account for the property, a review of every expense category, the finance-cost credit calculation, the UK property pages and the rest of your Self Assessment return completed and filed with HMRC. Rental income alongside employment or a pension is the most common case and this fee covers it.
How is mortgage interest treated now?
Since April 2020 individual landlords cannot deduct mortgage interest or other finance costs from rental profit. Instead you receive a tax reduction of 20% of the finance costs. For higher-rate taxpayers this means more tax than under the old rules, and the restriction can push rental profit into a higher band. We calculate it and carry forward any unused credit.
Which deadlines matter most for landlord & property tax?
The next four dates that apply to landlord & property tax are shown at the top of this page, calculated from today. For Chelsea clients we diarise every one of them from the day you join and send reminders before each, so the work is done in good time rather than in the last week before a penalty.
How do I get started from Chelsea?
Message us on WhatsApp or email with a sentence about your business and what you need. We reply in working hours with any questions and a fixed fee for landlord & property tax. Once you confirm, we tell you exactly which records to send and the work begins. Most Chelsea clients are set up within a day.
Let us take the deadlines off your plate in Chelsea
Tell us what you need. You get one fixed fee in writing, and nothing is filed until you approve it.