If you’re a landlord and are letting out property that is mortgaged, you may be re-evaluating your strategy in light of legislation that will see mortgage interest tax relief reduced to zero. This is particularly challenging if your property is off the market for a significant period of time for development or upgrades, such as to meet energy efficiency or safety guidelines. As well as playing the long game before seeing a return on your investment, you’ll also have a self-assessment tax return to submit.
If you receive and take custody of tenancy deposits, these need to safeguarded by a government-backed deposit protection schemes.
Where estate agents handle client funds, such as a deposit for a home or commercial premises, these need to be accounted for separately from regular income.
As specialist property accountants, here at Braant we’ll help you optimise your accounting processes to maximise the value of your estate agency, lettings or property management business and, where appropriate, unlock the full potential of your property portfolio.
We have the resources, the experts, the knowledge and experience to help your business grow. And with over 1,000 accountancy clients in the UK and London, the volume of our work allows us to share economies of scale with you.