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Property specialist tax advisor/accountant


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Hello,

i'm convinced that i should be setting up a ltd company as it'll provide more flexibility and be better for tax. I'm aware that accounts will need to be done by a professional but i was hoping i could work with one that specialises in property but can also offer specialist tax advice. essentially i'd like to work with one that doesn't just report and do the accounts but can help me plan ahead and advise. 

I'll firstly need advice on how to structure the ltd company based on my circumstances and future plans.

A recommendation and estimate of charges would be great if anyone can help?

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Whether a limited company is right for you will depend on your own personal tax position and what you are hoping to achieve out of property. This blog I wrote talks about some of the advantages and disadvantages and may help you make a decision.

The main advantage of limited company is the low corporation tax environment and ability to deduct interest as an allowable expense, this makes it a popular choice with property investors who have a well paid PAYE salary which is taking them above the higher rate threshold. A key disadvantage of investing in a limited company is that when you look to take out profits you may find you pay additional tax to do so, depending on how you withdraw profits. Limited companies therefore suit investors happy to keep money in their company for the time being, in order to allow their wealth to compound over time.

Fees for providing accounts and ongoing support seem to vary from about £700 to upwards of £1,000 per year. This may or may not include some initial guidance on structure depending on the company. 

We specialise in providing accounting and ongoing advice to property investors such as yourself and would be happy to talk through your situation in more detail. You can reach us on info@accufy.uk

 

David M Slater ACMA 

Accufy Accounting  - Proactive accounting for property investors 

0208 242 4926    info@accufy.uk

 

 

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