Self Assessment

■ Airbnb, Buy to Let Property Tax Returns: A buy to let property tax return service involves assisting individuals or companies who have investment properties with their tax compliance requirements. We can help file taxes specific to rental income from buy to let properties while remaining compliant and following relevant tax laws, identifying allowed deductions, ways to minimize tax liabilities and many more.

■ Annual Tax on Enveloped Dwellings (ATED) Assessment: Annual Tax on Enveloped Dwellings is tax applied to residential properties owned by companies aimed at properties held within corporate structures and is designed to discourage the use of such structures for holding high value residential properties. The ATED applies to properties with a value above a certain threshold and requires an annual tax to be filed which we can assist with. The amount of the taxis based on the value of the property. We can further assist with strategic tax planning which may help reduce ATED liabilities and optimize overall tax positions for clients owning enveloped dwellings.

■ House in Multiple Occupation (HMO) Tax Assessment: A House in Multiple Occupation is a property rented out to multiple tenants who are not from the same household and who share certain facilities such as kitchen etc. This service involves assisting landlords whose properties fall under the HMO category with their tax compliance obligations. We can deduce if the property meets the legal definition of an HMO which will determine the application of tax liabilities and allowances, ensuring compliance with relevant tax laws and regulations. Our goal is to help landlords optimize their tax positions while ensuring compliance with tax authorities.

■ Student Landlords Tax Management: This service includes assessing tax implications of renting to students, preparing and filing tax returns specific to rental income from student properties and maximizing allowable deductions and allowances to minimize tax liabilities and providing advice on tax efficient property ownership structures. The goal of this service is to help landlords optimize their tax positions while ensuring compliance with tax laws. ■ Commercial Landlords Tax Management: This service involves assisting landlords who own commercial properties with various financial and administrative tasks in relation to property management. We can assist with services such as administering lease agreements, including reviewing and renewing leases, ensuring compliance with lease terms and conditions. We can also provide financial and tax reporting services such as preparing income and expense reports, preparing and filing tax returns. The goal is to help landlords manage their commercial properties, maximize rental income and be compliant with tax regulations.

■ Let Property Campaign Tax Return: The Let Property Campaign is an initiative by HMRC aimed at landlords with undeclared rental income. This service will allow landlords who are a part of this campaign with their tax compliance requirements. It includes reviewing the landlord’s rental income to ensure accuracy, preparing and filing taxes, calculating any tax liabilities owed to HMRC based on undisclosed rental income and providing guidance and support throughout the Let Property Campaign process.

■ Non-Resident Property Owners Tax Return: Non resident property owners are individuals or entities that own property in the UK but are not tax residents of the country. This may include foreign investors, expatriates etc. This service assists individuals or entities who own property in the UK. We can prepare and file tax returns including reporting rental income, claiming allowable deductions and calculating tax liabilities owed to HMRC. We can also assist in calculating Capital gains tax on any gains made from selling residential property, advise businesses on their ATED obligations if they own any high value residential properties in the UK, including filing ATED returns.

■ Single Property Owners Tax Returns: This involves assisting individuals who own a single property with their tax compliance requirements. Services include rental income reporting: helping property owners report rental income, reporting capital gains tax if the property is sold, filing for tax returns, ensuring compliance and timely submission of returns etc. The goal of this service is to assist property owners fulfill their tax obligations.

■ Cash Accounting Scheme: The Cash Accounting Scheme is a method of accounting for Value Added Tax (VAT) on the basis of payments made and received rather than invoices issued and received. We can assist businesses with the registration with the scheme if eligible, we can also assist with recording transactions, VAT return preparations, compliance reporting and support.

■ Standard Rate: The standard rate in the UK is set at 20%. We can assist in helping your business comply with VAT regulations, preparing VAT returns and advising on VAT implications for transactions.

■ Flat rate scheme: Under this scheme, businesses have to pay a fixed percentage of their gross turnover to HMRC as VAT rather than calculating VAT on each transaction. Businesses with an annual turnover of less than 150,000 GBP or less (excluding VAT) can join this scheme. The rate ranges from 4%-16.5% depending on the sector of business. We can assist in submitting VAT returns to HMRC.