As a landlord, you receive rent from one or more properties. It might be a challenge to manage rental accounts and tax returns when you have other responsibilities to address, as a landlord. For this reason, we provide a comprehensive range of services that make the job easier for you. Muhit & Co has a strong track record working with landlords in London, so we know the various accounting-related responsibilities that a landlord has to deal with. We have accountants for landlords to provide comprehensive services that address your unique concerns and situation.
As a residential landlord, you assume certain duties towards the tenants and government when letting a property. For example, you are legally bound to do the following:
- Inform your mortgage lender if you are letting your property
- Rental revenue makes up part of your total income and needs to be declared on your annual Self-Assessment tax return.
- Pay Capital Gains Tax on sold rental property
- Provide assurance with the Tenancy Deposit Scheme
