One flat or a growing portfolio. We prepare your property accounts, handle finance costs and joint ownership properly, and get you ready for Making Tax Digital, for a fixed monthly fee.
Accidental landlords, buy-to-let investors, holiday lets and everything in between.
Rent, agent fees, repairs, insurance, factor fees and the rest, pulled together for each property and filed on your return.
Gross rents count towards the threshold, and joint owners count their own share. We tell you when MTD applies and file every quarterly update.
Mortgage interest isn’t deducted like other costs any more. We work out the tax credit you’re due and carry forward anything unused.
We sort costs into what you can claim now, what you claim when you replace furniture and appliances, and what reduces your gain when you sell.
We split income and costs by how you actually own the property, and tell you when a Form 17 could save tax.
Selling a let property? Capital Gains Tax must be reported and paid within 60 days. Thinking about a limited company? We’ll run the numbers first.
Since April 2020, residential landlords get a tax credit of 20% of their finance costs instead of deducting them from rent. If you pay tax above the basic rate, that costs you money.
Rent £12,000, other costs £2,000, mortgage interest £5,000. Tax is worked out on £10,000, then £1,000 comes off. A higher-rate taxpayer in Scotland pays £3,200, not the £2,100 they’d pay if the interest were deductible.
tax credit on mortgage interest
The rules that catch landlords out most often.
Fixing what’s there, like for like, is a repair and comes off your rental profit now. Making it better, such as an extension or adding something that wasn’t there before, is an improvement. You can’t claim it against rent, but it reduces your gain when you sell.
In a furnished let you can claim the cost of replacing a sofa, bed, fridge or washing machine with a similar item. The first one you buy for a property can’t be claimed this way.
Married couples and civil partners are taxed 50:50 on jointly owned property by default. If you really own it in different shares, a Form 17 lets you be taxed on your actual share, which can save tax if one of you pays a lower rate.
The furnished holiday let rules ended in April 2025. Short-term lets on the Ayrshire coast are now taxed like any other let: finance costs get the 20% credit, and furniture is claimed as replacements. In Scotland you also need a short-term let licence from the council.
Sell a UK residential property at a gain and you have 60 days from completion to report it to HMRC and pay the Capital Gains Tax. That’s separate from your normal return, and late reports are penalised.
Rental income under £1,000 a year may be covered by the property allowance. Letting a furnished room in your own home? Rent-a-room relief makes up to £7,500 a year tax-free.
General guidance for the 2026/27 tax year, not advice for your situation. Ask us before acting on it.
We only work with landlords, sole traders and CIS builders, so property tax questions are everyday questions.
Agreed in writing before we start. No surprise bills, and questions during the year are included.
The person doing your accounts answers your emails, within one business day.
Based in Ayr. We know Scottish income tax rates, LBTT and the short-term let rules.
Yes. If your gross rents, plus any self-employment income, are over the threshold, it applies. It’s £50,000 now, £30,000 from April 2027 and £20,000 from April 2028. Joint owners count their own share.
It’s a good start. We reconcile the statements to what actually reached your bank, and add the costs you paid directly, like the mortgage, insurance and repairs you arranged yourself.
Sometimes it makes sense, especially for higher-rate taxpayers with mortgages. But moving property you already own usually triggers Capital Gains Tax and Land and Buildings Transaction Tax, plus new mortgage costs. We’ll run your numbers before you decide.
Yes, for trips that are for the letting business, such as inspections, viewings and meeting tradespeople. You can’t pay yourself a wage for your own time, though.
Yes. Once you sign up we contact them for the handover, get authorised with HMRC and pick up where they left off. You don’t need to have the awkward conversation.
Tell us a little about you and we’ll come back within one business day with a fixed monthly fee.