Landlord Accounting
Rental income brings its own reporting requirements, from allowable expenses to mortgage interest relief and, for larger portfolios, potential incorporation questions. A professional experienced with landlords can help you stay compliant and organised.
The rules for landlords have shifted substantially in recent years, particularly around how mortgage interest relief is treated for tax purposes. What was allowable a few years ago isn't necessarily allowable now, which is part of why landlords who've been managing this themselves for a while sometimes benefit from a fresh review of their position.
At a glance
- Best for: individual landlords with one or more rental properties
- Common reason: reporting rental income through self assessment
- Free to use, with no obligation to proceed
Who this is for
- Individual landlords with one or more rental properties
- Landlords considering incorporating a property portfolio
- Anyone letting a property for the first time
- Landlords with furnished holiday lets
Common reasons people get in touch
- Reporting rental income through Self Assessment
- Understanding allowable expenses and mortgage interest relief
- Considering whether to hold property personally or through a company
- Managing accounts for a growing property portfolio
What this typically involves
- 1A review of your rental income and allowable expenses for the year
- 2Clarity on how mortgage interest relief applies to your situation
- 3Guidance on whether incorporating your portfolio could be worthwhile
- 4Support reporting rental income correctly through Self Assessment
Questions worth asking
A few things worth raising once you’re speaking with a professional.
- Which expenses can I actually claim against my rental income?
- How does mortgage interest relief affect my tax bill now?
- Would it make sense for me to hold my properties through a company?
- What records should I be keeping for each property?
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