Self Assessment Tax Return (Personal tax return) for Landlords

Self assessment tax return for landlords

UK Property Accountants has specialist team of property tax and personal tax experts to help you to prepare and submit self assessment tax return to HMRC. Our tax experts know how to reduce your overall tax bill to the fullest extent possible under current tax laws and HMRC guidance.

On the one hand, there are a lot of landlords and other taxpayers who pay extra tax than they are legally required to pay as a result of not getting expert advice. On the other hand, there are a lot of landlords who are investigated by HMRC for submitting wrong tax returns. So, it is essential for landlords to get their self assessment return prepared by property tax experts. Team at UK Property Accountants are always ready to help landlords by providing best tax advice and tax compliance services.

What is Self Assessment tax return?

Self Assessment is a system by which HMRC collects tax from individual taxpayers. Every taxpayer (with some exceptions) has to prepare & submit self assessment tax return to HMRC for a tax year which runs from 6 April to 5 April. In the tax return, you need to declare all types of taxable income such as rental income, capital gains, employment income, pensions, self-employed income, dividends, interest and other taxable income. Based on the declared income, tax liability is calculated and paid to HMRC.

When is the tax return due for landlords?

The deadline for submitting tax return is 31 October for paper returns and 31 January following the tax year for the online returns. This means that for the tax year 2016/17, the deadlines are 31 October 2017 for paper returns and 31 January 2018 for online returns.

When do landlords need to pay income tax?

Landlords needs to pay income tax liability in three instalments on payment on account basis. This means the tax is due even before you have prepared your self-assessment tax return. The first instalment is due on 31 January of the same tax year, second instalment is due on 31 July following the tax year, and final instalment is due on 31 January following the tax year. The first two instalments will be 50% of previous year’s tax liability, and final instalment will be the balancing figure based on the actual tax return for the tax year.

For further information, refer to our detailed guide on income tax.

Why UK Property Accountants for your self assessment tax return?

EWe believe the every landlord in the UK deserve specialist property tax service at reasonable price. We are here to help you to focus on your goals without worrying about tax compliance & tax saving strategies. We will take care of all of your tax & accounting needs so that you can focus on building your property portfolio and achieve the financial success you deserve. Following are the few reasons among others:nter your text here...

We deal with landlords on daily basis and have in-depth knowledge of specific property strategies such as Rent2Rent, HMO, serviced accommodation, student accommodation, lease options, etc. This specialist property knowledge means that you don’t have to spend a lot of time explaining your strategies, your income & expenses.

  • As a firm of property tax specialists, we have expert knowledge about all tax matters applicable to landlords such as allowance expenses, income tax reliefs, Section 24, capital gains reliefs and many more!
  • We deal with landlords on daily basis and have in-depth knowledge of specific property strategies such as Rent2Rent, HMO, serviced accommodation, student accommodation, lease options, etc. This specialist property knowledge means that you don’t have to spend a lot of time explaining your strategies, your income & expenses.
  • We believe that every landlord deserves high-quality tax service. At UK Property Accountants, every self assessment tax return will be reviewed by a ‘Chartered Tax Advisor’ so that we can spot on any tax planning opportunities and advise you accordingly.
  • We make sure that your tax return is completed & submitted on time & no penalty is levied by HMRC. We finalise 100% of the self assessment tax returns within two weeks of receiving all the relevant information from you.
  • We believe in the transparent fee structure. We work on the fixed fees basis, and we will charge you only what is agreed with you in advance.
  • We provide FULL MONEY BACK GUARANTEE. If you are not happy with our service, we will refund the money you paid to us.
  • Contact us now to discuss how we can help you.