Our services allow you to do what you do best, focusing on running your business. We free up your valuable time by taking control of your financial processes and delivering them in a timely manner to give you peace of mind.
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0333 880 2460
ACCOUNTANCY SERVICES FOR LANDLORDS
Understanding the issues affecting landlords and property owners
Property is a solid investment which will provide you with a steady income while appreciating over time. You can offset the expense of buying and developing a property against any income that you derive from it, making it a relatively safe investment opportunity. So, it’s no wonder that, in an uncertain economy, people are vying to snap up investment properties as a long-term investment.
Whether you own one property, or you have a large portfolio, your rental home is a business and needs to be treated as such. It’s not as simple as buy a house, let it out, and keep the change; as a landlord, you have certain responsibilities and legislation that must be met.
AGP Consulting offers the full spectrum of accounting and tax services for landlords, helping to protect your investment and make your money go further.
professional accounting services tailored to your needs.
accurate accounts aren’t just a legal requirement; they help you to assess your annual profits and gauge the stability of your business.
we offer three cloud-based solutions that will allow you us to share information and keep records efficiently.
Advice and guidance on the law, you and your tax
Our services go much further than telling you how much money came in and how much needs to go out. Our experts will let you know of any landlord-specific tax reliefs that you could be eligible for. They will talk to you about tax-efficiency, guide you on the best way to invest your rental income and help you to put processes in place that will allow for the accurate recording of accounts. Together, we can make sure that you get the very most out of your investment. The areas that we cover are broad and varied, but some key services are listed below.
The legislation and restrictions pertaining to rental income have changed a handful of times over the last few years. One significant change is what can be deducted from your rental income. Our trained specialists stay abreast of changes in legislation and will make sure that you pay the right tax for your circumstances. No matter how many properties you let out, your rental income is counted as business income. This means that you have to complete an annual tax return which calculates your income and expenditure and will determine your tax liability. AGP Consultancy’s tax advisors can help you to ensure that you file your tax return correctly and apply for any relief and exemptions that you may be entitled to.
We have been using AGP Consulting for our business since we have started almost 10 years ago. They have never failed to provide an excellent service.
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RENTING A ROOM TAX RELIEF
If you are a landlord renting a room in your only residence, then you will be entitled to tax relief on that rental income. In order to be eligible for this relief, legislation specifies that you must have shared occupancy with the tenant (lodger); AGP’s specialists can talk you through the restrictions and ascertain whether you are entitled to income relief on this basis.
CAPITAL GAINS TAX
When you sell an asset, you are subject to paying tax on any profit that you may have made from the sale. If you fail to pay the right amount in a timely fashion, you could incur fines, not to mention having to repay any unpaid duty, potentially after you have reinvested the proceeds of the sale. At AGP Consultancy, we will help you to forecast income, expenditure and tax, avoiding nasty surprises so that you can plan better for your future.
Whether you are a first-time buyer, you are well and truly on the ladder, or you are a seasoned property manager, buying a property is a serious business. After all, you need to make sure that your investment will grow with time and not stagnate or, even worse, depreciate. Our advisors can help you to make the right choice for your long-term success; they will advise you on measures that you need to take to ensure accurate recording of accounts, filing of your tax return, and taxes that you need to pay on purchase of a property so that you can gain a clear picture of the financial landscape and make an informed choice about your investment.
When it comes to buying commercial property, you have a choice One option is to buy the property as an individual, then rent it out to your limited company; this also gives you scope to let excess or unused office space to other organisations. If you opt to have the commercial property in your personal name, you become a landlord, so you need to meet the tax requirements for landlords. The pros and cons of each business choice aren’t always obvious; our specialists can help you to talk you through your options and decide on an approach that is most sustainable and profitable in the long term.
Whether you are in the process of buying a property, you are thinking about buying a property, or you are a landlord unsure of what needs to be declared, and when, AGP Consultancy will provide you with a tailored package that will help you to stay on the right side of the law while maximising profit. For more information, get in touch.
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AGP was co-founded by Faroque Ahmed and Forhad Ahmed in 2015. After many years of working with an established accountancy client base, the time was right to come together and create AGP.
Q West, Great West Road, Brentford, TW8 0GP
Knowledge Dock Business Centre, 4-6 University Way, London, E16 2RD