1. Get In Touch

Email or give us a call.

We get to grips with your personal situation, discuss the records we need and confirm our fee.

2. Send us your records/information (We’ll do the rest)

Send us your information and documents by email, post or upload to our secure online client portal

3. Approve and We’ll Submit it all to HMRC

You get a dedicated accountant who will work with you to get everything right and send you a full copy of your tax return for approval with a detailed calculation. Once you’ve signed off we’ll do the filing with HMRC.

As one of the UK’s leading property tax specialists we prepare and file thousands of tax returns for landlords each year. We have the in-depth knowledge of all the income rules and allowable expenses you can claim so you can be confident that everything will be handled correctly, on time and without error.

Every client’s situation is unique, so we look at your property as just one aspect of your financial situation. You’ll be informed if there are allowances or tax breaks you’re entitled to and we’ll ensure they’re claimed. Additionally, we can discuss ways to save money on your property ownership and management.

The fee we quote is the fee you pay. No hidden extras or surprise charges. Just clear pricing.

The first time most people own a property other than their main home is through this process. Selling it and taking the cash might seem tempting, but in these days of historic low interest rates, it makes sense to have a long-term source of income as well. Should you sell or let your property? With our tax return service, you will have no problem making this decision.

If you’re both owning your own places and decide to live together or get married, you find yourself with a spare place. Getting into the rental business through this method is a great way to make money. Not only will we manage your tax return, but we can also provide joint-ownership and tax planning advice in this case.

An investment property might be a good option if you feel your capital could be working harder for you. You can test the waters and see if you enjoy being a landlord by buying a single buy-to-let apartment or house. Let us guide you along the way, offering sound advice and providing the support you need.

Definitely – and it’s really important, too. The property income pages need to be included in your self-assessment tax return. In case you have not filed a self-assessment return in the past, you must inform HMRC of this new source of income by the 5th of October following the end of the tax year. You may be penalized or, in extreme cases, prosecuted if you fail to notify or disclose the income in time.

If HMRC is not aware of any source of income (excluding tax-exempt savings and ISAs) then not declaring it, if later discovered, could be considered tax evasion.

There are many ways HMRC catches landlords who don’t declare their rental income, as shown by the following article published in the national press:  The Guardian 29/05/07

Net rental income from a solely owned property is taxable to you. Alternatively, if you and your partner own the property jointly, then any income generated will be split equally. In most cases, this would be a 50:50 split. Your taxes will be calculated individually for each of you.

Similarly, we assume that each month’s rent of £600 is gross, before deduction of allowable expenses. Before arriving at your taxable rental income, any expenses related to letting your property could be deducted from gross rents received.

These are just a few examples of deductible expenses, although this is far from an exhaustive list:

Interest on mortgages and other finance costs (limited to the basic rate of income tax for most residential properties)
Maintenance and repairs
Expenses for services
Fees charged by letting agents
Paying for electricity, gas, water, and council taxes on behalf of the tenant
Insuring contents and property

You won’t have to pay income tax if your allowable expenditures exceed your rental income. You will incur an annual loss from renting your property, which can be carried over and deducted from future profits.

Imagine that the property belongs to you solely, you earn £25,000 per year from employment, and your taxable rental profits, after deduction of expenses, range from £100 to £1,200 per year. If you are a lower-rate taxpayer, you will have to pay tax on you rental profits of £240, which will be approximately 20%.

To ensure that you have enough money to pay your tax bill, you might want to consider setting this amount aside. Higher income levels mean a higher effective tax rate, meaning you may be paying more than 20% in taxes.

You can’t. That’s the short, straightforward answer to this question.

The rent you charge for a property doesn’t matter whether you are related to the tenant, or not. In contrast, if you are renting the property below market value, you cannot set the losses against other rental profits, but can only carry them forward to set against rental profits earned from that tenant.

Depending on the circumstances, yes. Before you decide to go down this road, you should think about the following factors.

Types of ownership by individuals (England and Wales only)

Sole Ownership

An individual owns the property under his or her own name, and the income and capital gains are taxable to that individual. It is not possible to share income and gains with a spouse or civil partner for tax purposes.

Joint ownership (joint tenants)

Joint ownership means the property is owned jointly and if one owner of the joint ownership dies, the property automatically vests to the remaining owners. It is not possible to leave a joint property in a will until the last surviving owner becomes the sole owner. Likewise, since the individuals are entitled to equal shares in income and capital gains, they cannot elect to share income differently. As a result, beware. It is important to ensure that you have common ownership as tenants in common when buying a property in joint names with friends, for example.

Common ownership (tenants in common)

In this case, an individual owns a portion of the property. There may be an equal share or a difference in proportions. Upon the death of one of the tenants, the share of that tenant goes into their estate and is dealt with by their will or as per the laws of intestacy. In the case of joint ownership and non-married/civil partners, the income and gains are distributed proportionally between the owners. As a couple/civil partner, the income is treated as shared equally (regardless of beneficial ownership) unless both declare the split based on their beneficial ownership. Gains would follow beneficial ownership.

As a result of the above, here are some ways to save on capital gains taxes

Transferring property into joint names before a sale is a good idea if one spouse owns it in their own name and the other has not already used their CGT exemption for that tax year. This should be done with care, as HM Revenue and Customs may claim the transaction as invalid if it is performed shortly before a sale. Each spouse’s tax return must also include any income received after the transfer of the property, which may increase income taxes. Additionally, the property would need to be conveyed into joint names.

Not usually, no. Generally, losses on a rental income business can only be carried forward to offset future profits from that very same business. Your other income may be able to offset the losses if the losses resulting from surplus capital allowances on commercial lettings.

For this very common question, we have written a separate article which is a must-read for any landlord, regardless of how many properties they own.

Allowable expenses against rental income

No, in a nutshell. Materials, however, are clearly deductible. You should also be able to deduct the cost of your travel to the property, provided you are only travelling in connection with the forthcoming rental of the property. For time spent working on the property, you cannot deduct anything.

The deadline is 31st January following the end of the tax year. So for income earned between 6 April 2024 and 5 April 2025, your online tax return must be filed by 31 January 2026. Paper returns are due earlier by 31 October 2025

Yes, letting agent fees are a valid expense and can be offset against your rental income. This includes tenant-finding services, management fees, and even inventory costs charged by the agent.

You no longer deduct mortgage interest from rental income directly. Instead, you receive a 20% tax credit based on your interest payments. This affects higher-rate taxpayers the most, basic-rate taxpayers usually see no change.

If your total rental income (before expenses) is under £1,000 a year, you can usually rely on the property allowance and don't need to register. If it’s more than that, even if you’re making a loss, then yes, you’ll need to register with HMRC.

Typical allowable expenses include:

• Letting agent fees
• Mortgage interest (relief via tax credit)
• Repairs and maintenance
• Insurance (buildings and contents)
• Council Tax and utility bills (if you pay them)
• Accountant’s fees
• Travel for property management

Always keep receipts and ensure the costs are wholly and exclusively for the rental.

HMRC will fine you £100 straight away, even if you don’t owe any tax. After 3 months, the fines start increasing starting at £10 per day to a maximum of £1,600 in total for any one year. You can also be charged interest and penalties on late payments. It’s worth staying on top of deadlines to avoid unnecessary costs.

You’ll need to fill in the property section (SA105) of your Self Assessment return. This includes your gross rental income, allowable expenses, and any profit or loss. If you own property jointly, you only declare your share.

Yes. As long as you’re registered with HMRC for Self Assessment, you need to file a return each year even if your property made a loss. Losses can be carried forward, so it’s worth doing to reduce future tax bills.

Not usually. This would be regarded as capital expenditure and adding something that was not previously there. However, you may be able to offset them against Capital Gains Tax when you sell. Ongoing repairs, like fixing a broken radiator, replacing old windows or boilers are still allowable.

HMRC are cracking down on undeclared rental income. If you don’t come forward, you could face penalties of up to 100% of the tax owed or more in serious cases. It’s far better to declare voluntarily and take advantage of HMRC’s Let Property Campaign, which can reduce penalties.