Are you a landlord? Whether you’re already a landlord or you’re embarking on an adventure to be one, there’s no doubt that conducting the correct financial information and keeping updates with regular tax payments can be hard.
At LJS Accounting Services, we have specialist accountants for landlords – our team of helpful experts has the right amount of experience and knowledge to guide you.
Having an experienced accountant can be beneficial in many ways. Regardless of whether you have a small or large portfolio of properties, the advantages of having an accountant are endless for your company.
If you’re a landlord or working within the residential investment industry, we highly recommend contacting our advisors for more information. Read on to find out how the services we provide can help you.
How Can a Landlord Benefit from Hiring an Accountant?
Starting the search for the right accountant can be difficult, but with a free consultation, LJS Accounting Services can help. Having an accountant is extremely beneficial for all businesses – whether you’ve been in the industry for weeks, months or years, organising your own taxes and bookkeeping duties can take up a lot of your time.
Having an accountant gives you more free time to deal with other important aspects of your business, whilst allowing you to be the best landlord you can be. An accountant acts as a tax calculator, giving both advice and knowledge on what steps you need to take financially.
A specialist accountant will have a good indication of what you need to pay and receive, whether it be property tax, payments from investors or external bills regarding your properties.
Accountants can save landlords both time and money, as well as deal with problems regarding HMRC. To find out our top three benefits of hiring an accountant as a landlord, read on.
Staying Up to Date
As a legal requirement from the government, you need to keep your company accounts up to date. Keeping up to date with payments and accounts can be tedious, especially when you’re so busy with other job roles that come with being a contractor.
A property account will be prepared for any upcoming changes, as well as being able to deal with financial aspects with ease. Accountants know what you need to be compliant with, having knowledge of all the rules and regulations that have been set for landlords by law. Also keeping up to date with schemes, rules and regulations that accountants can keep you informed about such as landlord licensing schemes being scrapped.
Software
Accounts are hard to deal with as it is, but even more so if you have a property portfolio on a larger scale. Things can get confusing and paperwork can be lost when you’re dealing with everything on your own – at LJS Accounting Services, we take advantage of modern-day technology by implementing software into our methods to stay organised.
For accountants, keeping information, files and finances all together has never been easier. You’ll be able to rest assured knowing that an expert has everything you need to be gathered in one place.
Whether it be through cloud software or through popular technology such as Xero, our accountants know how to handle your information confidentially.
Years ago, landlords couldn’t hire accountants who had such great software to hand but fast forward to 2022, it’s an everyday practice within accounting businesses.
Planning for the Future
One of the greatest things about having an accountant is the access to expert advice whenever you need it. When business decisions need to be made, it’s always good to have a second opinion, especially when it’s from a professional.
Accountants know what to plan for in the future, meaning you won’t have to worry about staying updated with new tax regulations. If you decide to invest in more properties, your accountant will be able to guide you in the right direction, letting you know whether you’re in the right financial position to be making future investments.
Property Accountants at LJS Accounting Service
For over 10 years, LJS Accounting Services has been providing the highest quality of services to loyal customers across the UK. If you’re wanting to buy a property and need start-up advice before you embark on your journey to becoming a landlord, we advise you to contact a member of our team today.
We’ve helped thousands of customers with their financial needs, even through the tough times of Covid-19. With both big and small businesses from the capital, Manchester, Liverpool and beyond – we’ve dealt with an array of different customers up and down the country.
To join together, contact us today by emailing info@ljsaccountingservices.com or alternatively, ring your local LJS Accounting Services office.
Keli Evans, Director at LJS Accounting Services, excels in taxation and statutory accounts. With a focus on strong client relationships, she leads a diverse portfolio, overseeing vital financial aspects like VAT, payroll, pensions, and taxation with a holistic and committed approach.
