Our Inhouse accountancy team will make sure all your tax obligation are in compliance with HMRC..

If you own a property and receive rental income in the UK, you will have certain tax obligations that HMRC will expect you to fulfil. This is specifically relevant for buy-to-let landlords, who focus on building a property portfolio in a bid to maximise profits.

Self-assessment tax returns aren’t optional. When you rent out a property, you must tell HMRC as you may have to pay income tax. You must register yourself for self-assessment and keep up with payments which will be based on your overall total income for the tax year.

At Edge Accountants, we make the self-assessment tax return process for landlords hassle-free. As specialist property accountants for buy-to-let landlords, we provide tax return services for a transparent fee that ensures the tax liability of landlords is kept to a minimum. This means, if there’s tax savings to be made, we’ll find and implement them.

We help landlords who generate income from UK property. This includes landlords renting a full house or flat, a room in a house/flat, or a parking space.

You will pay tax on your property income if the taxable profits are more than your personal allowances or other specific reliefs. The amount of tax you pay will depend on your total income for the tax year from all income sources. So, any profit from UK property is added to your other income for the tax year. If you’re a basic rate taxpayer, you will then pay 20% income tax on your rental profits. The tax due is collected under self-assessment – usually a tax bill due by 31 January each year. And it’s important you pay on time.

While this might seem a lot to take in, our experts will provide you with the best advice and on-going support to keep your tax bill to a minimum. Our landlord tax experts can discuss your tax needs with you over the phone, in our offices or a place that suits you.