Landlords Tax Tips 2

Landlords Tax Tips 2

This is the second in a series of articles from PGA Self Assessments which looks at the different ways landlords can benefit by using our services to complete their tax returns.

Do you ever visit your investment or buy to let properties? do you travel by car? do you claim mileage against the property taxable profits? our guess is that most people would answer yes to the first two questions, however not so many would answer yes to the third question.

Iy you travel to an investment property for the sole purpose of conducting your property business then the mileage is

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allowable, you may travel to check the property after a tenant leaves, for a pre let meeting or maybe to discuss some matters with the tenant or agent

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looking after the property. All these trips should be noted down and the mileage claimed against the profits of the property at the current rate of 45 pence per mile. (from 6 April 2011). Easier still just keep a record of your miles and

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let PGA self assessment prepare your landlords tax return for you, phone us on 01666 8322256 and we will be pleased to discuss your requirements with you.

Landlords Tax Tips 1

Landlords Tax Tips 1

In this series of articles we look at the implications for buy to let landlords

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PGA Self Assessment can assist private landlords and buy to let landlords, this article is the first in the series.

If you choose not to use an accountant for your personal tax returns, you will maybe miss out on the allowances and reliefs that are available to offset against your different sources of income. Suppose you are a buy to let landlord and are subject to tax on the profits from your property income. At PGA we have the knowledge to ensure that your tax is kept to the legal possible minimum. Our accountants will claim the 10% wear and tear allowance that when missed costs many buy to let landlord’s unnecessary tax. Is this something that you claim for your furnished lettings? If not give us a call and we can claim this allowance on your behalf and backdate the claim for any years that you have missed.