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Things to Know Before Choosing a Landlord Accountants

Things to Know Before Choosing a Landlord Accountants

Things to Know Before Choosing a Landlord Accountants

 

If you are serious about growing your property portfolio then it may be time to bring a professional accountant into your team. Hiring an accountant for landlord can relieve you of the many stresses of maintaining the books, managing the cash flow, and ensuring that you are playing the right taxes. But before you start searching for potential candidates out there, it’s important to understand what exactly an accountant can do for your business. Here are some of the roles and services that an accountant for the landlord can offer:

 

  • Maintain rental accounts
  • File your taxes and ensure you are taking advantage of the tax relief your business is eligible for
  • Provide investment advice on the most efficient means to own a property or grow your rental business
  • Disclose taxable income to HMRC on better terms
  • Liaison with HMRC and represent you in case you have any issue such as wrong tax code and errors in HMRC’s calculation
  • File the claim for the Landlord’s Energy Saving Allowance (LESA)

 

You want to make sure that you are hiring a trustworthy accountant for landlord since this person will be dealing with financial matters and accessing your confidential information. So, before choosing one, consider these points:

 

Does the accountant have relevant experience in the real estate industry?

 

The tax treatment and accounting for real estate businesses is different from other types of businesses. Thatis why you should find an experienced accountant for landlord who is an expert on real estate tax codes and has in-depth knowledge of the unique accounting requirements needed to maintain rental accounts.

 

What legal credentials does the accountant possess?

 

This is very important because legal credentials show that the accountant has gone through professional training and is delivering accounting services legally.

 

Are the previous clients satisfied withtheir accounting services?

 

Take time to check out reviews about them or call the clients on their reference list. Thatwill help you evaluate further the competence and reputation of the accountant.

 

Posted on January 4, 2021 by admin

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Allenby Accountants
35, Sweetcroft Lane
Uxbridge , London UB 10 9LE
Phone: 0208 914 8887
Fax: 208 914 8889
Email: info@allenbyaccountants.co.uk