Landlord accountants in Kensal Green

Residential and commercial landlords in Kensal Green: 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.

• 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

1. Scope the job

   We find out what you need filed, when it is due and what state the records are in, and tell you which fixed-fee package applies.

2. Agree the price

   The fee is confirmed in writing. There is no hourly billing and nothing added for questions during the work.

3. Hand over the records

   Photographs, PDFs, software access or a spreadsheet, sent however suits you. We confirm what we have and what is missing within two working days.

4. Approve, then we submit

   You review the draft with our explanation, sign off, and we file. Receipts, copies and the next deadlines come back to you immediately.

Kensal Green is in West London, within Brent, in the NW10 postcode district, England. For businesses in England the tax rules are those set by the UK Parliament: the 20/40/45% income tax bands, Class 4 National Insurance for the self-employed at 6% and 2%, Corporation Tax at 19% to 25%, and Stamp Duty Land Tax on property. Business rates are set locally by the council.

CIS deductions

Under the Construction Industry Scheme, contractors deduct 20% from a registered subcontractor's labour invoices, or 30% if unregistered, and pay it to HMRC. The subcontractor reclaims the deductions against their actual tax through Self Assessment, usually producing a refund because deductions are on turnover while tax is on profit. Contractors file a monthly return by the 19th.

Confirmation statements and identity verification

Companies House has tightened its requirements under the Economic Crime and Corporate Transparency Act: every company needs a registered email address and an appropriate registered office, every statement includes a lawful-purpose declaration, and every director and PSC must verify their identity. The confirmation statement, due annually with a £50 fee, is where most of this is confirmed.

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.

Switching accountants

Changing accountant is simpler than most people fear. You authorise the new firm, which writes to the old one for professional clearance and your records; the outgoing accountant must hand over your own documents and usually does within two weeks. The new firm registers as your agent with HMRC and picks up the next filing. There is no need to wait for a year end.

Payments on account

Payments on account catch out most people in their second year of self-employment. HMRC assumes next year's tax will match this year's and collects half in January and half in July, in advance, on top of the balancing payment. If profits are dropping you can apply to reduce them, but reducing them too far attracts interest. We calculate the right figure rather than guessing.

The Self Assessment calendar

The tax year runs from 6 April to 5 April. Anyone new to Self Assessment must register by 5 October after the end of the tax year in which their untaxed income began. The online return and the balancing payment are due by 31 January, with a second payment on account on 31 July where they apply. Paper returns have an earlier deadline of 31 October and are rarely sensible.

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.