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We've got a lovely accountant at the moment however he is nearing retirement and whilst he is good at answering specific questions we are in need of someone new who can basically tell us the best way to manage our properties now as well as plan for when me and my wife work for ourselves. Our properties are all under limited company and we will have a number of standard BTLs and are currently in the process of purchasing a holiday let.
Any recommendations for someone who can basically sit with us and tell us exactly what we need to/should do?
Hi Rich,Rental Income Tax Advisors (or RITA for short) are the tax partner of Property Tribes and also the Residential Landlords Association. They specialise solely in property and landlord tax and work with many PT members.They undertake most of their consultations over Skype or telephone, or can meet with landlords at their home, or you can go to the RITA office in Hertfordshire.RITA will be able to help you plan a way forwards.
Vanessa Warwick Landlord and Co-Founder of PropertyTribes.com **If you have got value from Property Tribes, find out how you can support it in remaining a free to use community resource**
Would highly recommend Debbie Franklin at Peplows Chartered Accountants. She's a property sector specialist, and tax expert, and we like her style of communication.
NB. No introducer's fees or other kick backs involved in my recommendation above - it's against our company policy to accept these.
All the best
The key in selecting any accountant is to be clear what you want. Many accountants make most of their money through the bookkeeping but if that is something you are happy doing there is no point paying for that. The key in my view is the technical accounting and tax aspects which need a higher level of skills. The rates may be higher but the value should be too.
Everyone goes on about property specialisms but it really is not that specialist an area and not chartered accountants should be able to do it for you.
My final bit of advice is do not use a bedroom accountant. The accountant should be big enough to have overheads (and afford PI) and stay on top of the ever changing legislative landscape. Having a firm with Chartered or Chartered Certified status is a very good requirement to have.
Chartered Accountant, Tax Advisor and Mortgage broker
(and BTL portfolio owner)
I think it is good to be near your accountants for face to face reviews though not essential. I would highly recommended Green and Co. (*Moderator note: Content removed) who are based in South Wales. They thoroughly understand the complexities of property and even host a property forum which meets once every other month.
We recommend Debbie Franklin at Peplows. She looks after our property business and also for our training business. Debbie is a landlord as well as being a tax expert. Face to face meetings are good as well, if you go to see her on a Friday you can spend the weekend in Devon.
Bob...would you say that Debbie at Peplows is a tax expert on buying business or just property? Am currently looking at buying a business (not property related) and wondered if Debbie would be a good fit. I also have BTL'.s
Lisa Elford Project-56 a new journey! ...and no it's not a 'van rental' journey
ditto bob dog. she is our accountant even though we are in London. ive never met her but it dont matter as she is v good with emails. we've only needed to speak a few times.
dont touch optimise accountants (my previous accountants) with a bargepole.
Thank you all! I've got a crazy busy weekend after a crazy busy week but I will reply more thoroughly and appreciate the references!