Property accountant required for SPV statutory account activities

[dean dyson 3]

Hi all,

Whilst not new to the BTL scene, this year I purchased my first property inside SPV / Ltd Company and as I approach the final quarter of the company accounting year,  it is about time to find an accountant to take on the new area of end of year filing activities!!

 

I would like to consider myself pretty savvy in general numbers and tax game having filed my personal SA returns for many years but the company accounts games is a whole new story that I am looking for help with.  I would be happy to do my own double entry bookkeeping and provide my chosen accountant with access to my online books from which to do these annual tasks - or if they prefer to operate a different way, I am open to discussion.

 

I have had a few sensible quotes (and a few silly ones) when researching "general" accountants at the start of this journey but before I take a decision in this fairly niche market, I wanted to post here looking for recommendations of accountants known to operate in SPV/Ltd Companies.

 

I live in Hampshire but I am as happy working with a nationwide accountant as I am a local one.

 

Any help would be much appreciated guys with this my first post within the property hub network. 

 

Feel free the message me or reply on this thread.

 

Thanks in advance.

Dean

[RJW 6]

Hi Dean,

 

I have a very similar question at the moment - did you ever get a response to the above?

 

Would you mind saying what happened next and if you found someone you're happy with?

 

Many thanks,

 

Rachel

[dean dyson 3]

Hi Rachel,

I did get a response from my post but it was just the one. Additionally to this and since a remote relationship did not bother me,  I mailed some of the leads/recommendations I picked out from this forum.

 

Some accountants did not respond but I did end up with 3 accountancy companies that I would have been happy to go with - all 3 were reasonably priced and each had it's own benefits. I have selected my accountant from these 3.

 

I have sent you a PM with further details, rather than posting my views on here as I do not think it fair to paint a public picture on the strength of a few phone calls and emails.

 

Good luck finding an accountant that works for you.

 

Cheers

Dean

[tomg1000 0]

On 5/14/2018 at 11:07 PM, dean dyson said:

Hi Rachel,

I did get a response from my post but it was just the one. Additionally to this and since a remote relationship did not bother me,  I mailed some of the leads/recommendations I picked out from this forum.

 

Some accountants did not respond but I did end up with 3 accountancy companies that I would have been happy to go with - all 3 were reasonably priced and each had it's own benefits. I have selected my accountant from these 3.

 

I have sent you a PM with further details, rather than posting my views on here as I do not think it fair to paint a public picture on the strength of a few phone calls and emails.

 

Good luck finding an accountant that works for you.

 

Cheers

Dean

Dan please could I trouble you to send me the same details?

 

I have been looking for a specialist property accountant but am finding it difficult to zero in.

 

Many thanks 

Tom

[dean dyson 3]

Tom,

Apologies for my delay in responding - been a little busy with my first purchase via RMP!

 

If you still need details, please drop me a note and I will forward some of the details I sent to Rachel.

 

Cheers

Dean

[Peaks Chris 0]

Hi Dean,

 

I am in exactly the same position as you... Please would you forward me the suggestions as well? Your caveats are noted.

 

Thanks, Chris

[carlos82 0]

Hi Dean,

 

Can you please share those details with me as well? I'm not having much luck in finding the right accountant to get my property business started.

 

Best regards,

Carlos

[Lee. 5]

Hi Dean,

 

Would you mind sharing those details with me also. I actually have an accountant at the moment but they certainly aren't property specialists and I'm looking to find one that understands the property game.

 

Many thanks 

 

Lee

[dean dyson 3]

Chris & Carlos, sorry for the extreamly late response to your request. To be honest I lost track of the email notification and Lee’s note “woke me up”!

 

 I have just penned each of you a PM. 

 

Lee, I sent you a PM too.

 

Cheers

Dean

[emma durnford 0]

Hi Dean

Would be great to receive this info too if you wouldn’t mind.

Thanks so much, really topical feed. Have found that there’s not really much info out there on the web for those who want to attempt doing it for themselves, so perhaps finding a good accountant is the best option especially in the early stages.

All the best,

Emma

[dean dyson 3]

Hi Emma - I have just sent details to you.

[mephisto 3]

Hi dean, could you please send me the list of accountants you have got and which one you decided to go? Are you having a good service?

[nbatch 3]

Jumping on this as well Dean, would be helpful if you could PM me on your experiences too please. Many thanks. 

[tlc properties 0]

Do you now have some details to share in the public domain? It seems a popular request!

 

i am not so familiar with the SA and bookkeeping area either so am looking for specialist support here too e.g. which expense category  do expenses like bedding go for a furnished rental property? Where do materials such as paint go for a refurb project?

 

Any and all advice welcomed!

Thanks

Lindsay

[DerekT 214]

Hi all

 

I personally use Rita 4 Rent, who are specialists in property accounting. They also do my day-to-day trading limited company accounts. Been using them for about a year now and no issues to date. Quick to respond. They also provide inputs into articles and other property-related sites, and are linked with the other forum, Property Tribes.

 

There's also the Property Hub Tax advisors, but I think they're quite popular and therefore busy/booked out. There's a few Podcasts from the start of 2018 that introduces them and their service - starts from TPP251

[davdav 0]

Hi Dean,

Can you please share the details of the firm that you've been using for your SPV/Ltd co please. We've been quoted a figure and not sure if its standard rates by large firms. Thanks, 

[dean dyson 3]

Hi,

Apologies to those I have not yet replied to, I have been a little consumed of late with the closing stages and preparations for letting of my first purchase that I made through RMP Property. I plan to send responses today but if I accidentally miss your request, please send me a message.

 

To the question raised by Lindsay / TLC Properties about putting info into the public domain. Whilst I would be happy to state who I chose for my accountant (subject to first seeking his blessing) I do not think it would be fair to put a "review" of experiences out there. My experience is very specific to my circumstances and the engagements that I made. I have tried to be open and very fair in my conclusions (those that I have messaged could be the judge of this) but I do believe it would be unreasonable to post this into the public domain. Last thing I would want is for anything to be taken out of context; whilst some of the accountants were not the right fit for me, I am sure that they are probably very good at their job and offer a service valued by their clients. I hope you understand my position here.

 

Cheers

Dean

[sheryldene dunne 4]

Hi Guys, if you're still looking for an accountant why don't you email us at tax@thepropertyhub.net. In addition to our consultations we now have a specialist tax and accounting service. We'd be happy to have a chat with you and discuss our service  

 

Regards, Sheryldene

[Matt Keeing 6]

Sorry, one more.... Dean, if you wouldn't mind - Thanks very much!

[Helen Anthony 0]

Dean, and one more again if you don't mind...and note the caveats.  Thanks, Helen

[Matt Keeing 6]

I thought as it’s clearly a topic of interest I would quickly share some basic research which I hope can be useful for anyone looking to an idea of costs for any budgeting any deals. Clearly everyone should explain their own circumstances and goals to ensure they’re getting the right service, but I think for those with one or two properties who are new to the Ltd company game, the below should be a good starting point!

 

The accountancy partnership came back with a reasonable sounding quote, and confirmed that they handle many BTL clients with LTDs.

www.theaccountancy.co.uk

 

If your turnover for year one is set to be less than £20,000 then the annual fee is £474.00 + VAT and includes the following services:

Unlimited access to your own dedicated accountant for advice on tax efficiencies and company recommendations

A full set of accounts

Completion of abbreviated accounts for Companies House

Submission of the corporation tax return (CT600) to HMRC

Submission of confirmation statement to Companies House

Representation in the event of an HMRC investigation

Automatic regular reminders for all of your important deadlines

Up to 2 directors self-assessments

FREE & Easy cloud accounting software – www.pandle.co.uk (free bookkeeping app)

Offices in London and Wirral

info@theaccountancy.co.uk

 

Following recommendations I contacted Fylde tax accountants and they politely said that they only work with landlords with larger portfolios and to try the recommended people on the National Landlord Association pages, link below.
https://landlords.org.uk/services/suppliers/all#finance

 

Michael from Rita 4 Rent kindly replied to explain their structure, which probably doesn't work for me as a beginner, as they start at £1500 + VAT, but said this could be reduced down for 1 or 2 properties, 50% payment up front.  

 

Sheryldene from The Property Hub tax has replied to arrange a call, so I can find out more.

 

Hope this is of some help for someone!

 

 

[amustprop 0]

On 4/30/2018 at 8:41 PM, dean dyson said:

 

 

Hello Dean, 

I am also looking for a property accountant and struggling to find one that is knowledgeable in the field but at the same time is not too "corporate" that I would struggle to get hold of them. I am happy to pay good money for good  service but have also been quoted some silly prices. 

Would really appreciate it if you could send me your recommendations

 

Thanks for your help

[amustprop 0]

Matt thanks for sharing this 

 

[jules44 0]

Hi Dean. I’d be very grateful if you could please send me details of property accountant also.  Many thanksgivings 

[dean dyson 3]

Matt, Helen, Amustprop and Jules - I have PM'ed you with some details. I hope it if of help and good luck with your respective property businesses.