You want reliable annual reporting
Agent statements and bank records need converting into a complete rental result with clear support for each claim.
Landlords · Accounts & tax
Know what the portfolio earned, what it cost and what the return means for your next decision.
We prepare rental accounts and tax returns from a reconciled property schedule, separating revenue costs, capital costs and finance so you can understand both taxable profit and actual cash performance.
- FCCA & CTA expertise
- Experience at BDO & KPMG
- Responses in hours, not days
- Fees agreed upfront
Expert perspective
A rental schedule should be useful long after filing.
Bank transactions alone rarely tell the full story. Deposits, agent statements, service charges, mortgage interest, loan repayments, repairs and improvements need to be separated and reconciled. The classification affects annual tax, cash analysis and future capital gains.
We maintain a property-by-property schedule and bring the result into the owner’s full tax return. That reveals how rental profit interacts with employment, dividends, pensions, benefits and payments on account.
Where the figures expose a wider issue, such as changing debt costs, unclear beneficial ownership or missing historic income, we explain the choices and agree a separate scope before moving into planning or disclosure work.
When this matters
Recognise the point at which advice adds value
The best result usually comes from reviewing the position before documents are signed, money moves or a filing deadline becomes urgent.
Works have been substantial
Refurbishment, replacements and improvements need classification between current deductions and capital cost.
Property is jointly owned
The reported split needs to match beneficial ownership and any special rules or declarations that apply.
Cash return is unclear
Mortgage principal, interest, voids, arrears and capital spend make taxable profit a poor proxy for cash performance.
The technical review
The areas we bring into one review
Good advice connects the tax analysis to the records, legal steps, cash position and longer-term objective.
Rental income
Rent, service recoveries, deposits retained, insurance receipts, arrears and amounts collected by managing agents.
Allowable expenses
Repairs, agent fees, insurance, service charges, utilities and other costs tested against the property income rules.
Finance costs
Interest and funding charges separated from capital repayments and treated according to the owner and property structure.
Capital expenditure
Acquisition costs, improvements and non-deductible works captured for capital-gains or capital-allowance purposes where relevant.
Ownership and losses
Beneficial interests, jointly held income, property-business losses and transfers between owners reviewed for consistency.
Wider return
Rental profit combined with employment, dividends, gains and reliefs to calculate liabilities and future payments on account.
What changes the answer
The deduction depends on what the cost did, not what the invoice calls it.
Repairs, replacements and improvements can look similar in bookkeeping but have different tax effects.
- 01Did the work restore the property, replace a component or create a materially improved asset?
- 02Was the property in a lettable condition and used in the rental business when the cost was incurred?
- 03Does the invoice separate qualifying work from private, capital or non-property items?
- 04Which evidence should be kept for an annual deduction, a future disposal or a possible HMRC review?
How UA Tax works
A clear route from question to implementation
You will know what we need, what we will deliver and which decisions remain yours.
Define the decision
We clarify what you need to achieve, the deadline and the commercial constraints before considering tax treatments.
Establish the facts
We review the records, ownership, prior filings and relevant transactions so the advice starts from reliable information.
Compare the routes
You receive a clear explanation of the viable options, their tax effects, practical risks and implementation sequence.
Implement and document
Once scope and fees are agreed, we coordinate the filings, elections, clearances and other advisers needed to complete the work.
Questions worth asking
Frequently asked questions
Can mortgage repayments be deducted from rent?
The capital element of a loan repayment is not a rental expense. Interest and certain finance costs have their own rules, which differ between individual landlords and companies.
Is a new kitchen a repair or an improvement?
It depends on what was replaced, the standard and functionality before and after, and whether the works form part of a larger improvement. Invoices and contemporaneous photographs can help support the analysis.
How are rental losses used?
Property-business losses are generally carried forward against future profits of the same property business, subject to specific rules. They do not usually reduce unrelated salary or dividend income.
Do I need separate bank accounts for each property?
It is not normally a tax requirement, but a dedicated property account or disciplined coding process makes reconciliation and evidence much stronger.
Can I claim costs incurred before the first tenant moved in?
Some pre-letting costs may be treated as incurred on the first day of the property business if they meet statutory conditions and would otherwise have been allowable. Capital and private costs remain excluded.
Do you handle Making Tax Digital for landlords?
We help assess when digital record and quarterly reporting obligations apply, choose an appropriate workflow and keep year-end tax adjustments under control as the rules take effect.
Continue exploring
Related advice
Bring the decision into focus before you act.
Start with a short initial call, or book a focused consultation if you already have a specific transaction or technical question to resolve.