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  • Tax

    Accountant Advice

    Hi all.

    What do the majority of you do when it comes to tax.

    Do you submit your own tax returns?

    Do you use an accountant to submit them?

    Or do you use a specialist property accountant who knows the ins and outs of the rental/property market? Are they worth the money you save on tax.

    Thanks very much

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    I have done my own s/a for many years as the hard bit is the book keeping rather than inserting figures in the boxes.  due to s.24 I have wasted a fair amount of time and money on a 'specialist property accountant' getting wrong advice and poor service.  

    They wouldn't then do my returns because I missed THEIR deadlines even though I submitted the accounts early jan. 2018! i.e. 3 months before hmrc deadline.  

    I have since discovered that are not chartered accountants!  they belong to some body my new accountant says she has never heard of!  make sure they are chartered if you do go down the accountant route and double check with the professional body that they really are full members; my old accountants were listed as members on the ACCA website and still are even though ACCA insist they aren't!!!!!!!  go figure.

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    Hi, I have three properties and live outside the UK which makes it somewhat problematic to submit tax returns etc...

    For 160 GBP per year, I have a very good general accounting firm do everything, with the confidence and peace of mind that it's done correctly. With constant changes in the tax regime and various ways to mitigate tax, I find an accountant normally saves you more than you pay them.

    Unless you have a large portfolio or exceptionally complex return, I don't see the need for a specialist accountant.

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    Hi MBW,

    Would you recommend your accounting firm?


    Regards

    T

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    Hi T,

    Yes, absolutely, I have been using them since 2015... https://www.pclg.co.uk/our-team


    Thanks,


    M

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