UK landlords are increasingly seeing a downtrend in property profits or property prices. A large amount of this downtrend can be associated with lack of regular bookkeeping and accounting which means they are unaware of loss making properties. Initially most landlords perceive cash as profits and this brings down the levels of profit associated with an individual property.
Increase in rent prices is seen by most landlords as the most viable solution. However, in the current market environment, this reduces the individual property value and the overall property portfolio value.
Most landlords associate profits with only individual property profit but fail to realise the impact of drop in property portfolio value. It has a serious effect on re-mortgaging of property as banks often see the income of the individual from the portfolio while provdiing finance during re-mortgaging. This makes re-mortgaging finance expensive whilst also losing money on the property
Expatriates will find our services particularly useful as their tax returns get more complicated due to operating from different tax regimes. Our bookeepers can provide a seamless transtion between accounting for different tax regimes. Mostly expatriates or domiciles will find their tax returns particularly complicated
Guaranteed rent income can be a good source of income for expatriate landlords as they don't have to worry too much about the monthly rental and other outgoings. It is important however to identify the true property value before securing guaranteed rental income.
Individuals can learn about corporation tax by signing up with our email newsletters so each month we will send an email with a topic of your choice with specialist support from our team of tax advisers.
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Monthly pricing packages are ideal for small businesses or startup businesses looking to hire bookkeepers or bookkeeping services at a fixed monthly cost.All prices are only for Virtual bookkeeping/remote bookkeeping services. For regular bookkeeping please contact us for a quote.
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