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Tax advice & accounts preparation

Advising landlords and agents on a variety of tax matters to ensure compliance and realise tax savings where applicable.

We carry out a range of tax compliance work for Landlords, and Residents’ Management Companies. Advising landlords and agents on a variety of tax matters to ensure compliance and realise tax savings where applicable.

 

Tax advice for Landlord & Agents

Our service charge accountants offer tax advisory work including computation of tax liabilities which arise from Corporation tax, VAT, trust tax, PAYE and personal taxes for directors or lessees. Our specialist services for landlord and agents include advice and support on the following areas:

 

Service Charge Accounts preparation

This is our core service at Haines Watts Service Charge. Most leases require service charge accounts to be reported on by an independent and qualified firm of accountants.

Whatever accounting package you use, whether it comprises of basic manual records through to a sophisticated computer system, we can interpret your information to produce annual accounts which comply with the leases and follow generally accepted accounting principles. We understand that all service charge accounts are different depending on the types of costs and structure of the development which in turn create schedules (or cost centres) within the accounts and this is critical to ensure each tenant is being correctly charged. Whilst there is no recognised accounting framework we always include an income and expenditure report, a balance sheet and explanatory notes. We also ensure accounts are prepared on an accruals basis unless the lease instructs otherwise as required by best practice guidance, TECH03/11. We ensure our accounts are transparent and also clear and easy to understand as we appreciate that they are distributed to many tenants who may or may not have an accounting background.

VAT and property

As experts in VAT we are able to advise property management companies and their agents on all matters relating to VAT issues for commercial and mixed-use properties. 

Most commonly this will be to help them decide whether or not to opt for tax (register for VAT). This applies only to landlords operating commercial and mixed tenure properties and will be different in each case depending on circumstances. We can also advise you about VAT requirements when buying or selling commercial property.

Capital Allowances

We also have expert knowledge in more specialist tax areas, including capital allowances where we may be able to obtain tax savings for agents and property management companies.

Leasehold extensions

The law gives the leaseholder/tenant a right to extend their lease. We can thoroughly explain the tax implications for the company and lessees relating to leasehold extensions.

ARMA ACE Awards

Our service charge team is highly regarded in the Property Management sector and in 2017 we were crowned the “Service Charge Accountancy Firm of The Year” at the prestigious ARMA ACEAwards.

 Talk to one of our service charge experts today

Service charges can attract different tax rules depending on the particulars of each site and the Haines Watts Service Charge Team has a wealth of knowledge in all areas to ensure you can rely on us to provide you with the correct tax advice in a timely manner to meet to the regulations of HM Revenue & Customs.

If you are a Landlord or Agent and require information about your service charge needs, you can call us on 01525 717424 (Luton), 02380 276323 (Southampton) or email us using service.charge@hwca.com.

Who we work with

The Haines Watts Service Charge Team has worked with Managing Agents, Surveyors, Landlords and Residents

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What we do

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About Us

Haines Watts is a top 15 firm of chartered accountants supporting over 35,000 business owners across the UK.

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Luton

42 High Street
Flitwick
Bedfordshire
MK45 1DU

Southampton

130 Bournemouth Road
Eastleigh
Hampshire
SO53 3AL

Our addresses

Luton

42 High Street
Flitwick
Bedfordshire
MK45 1DU

Tel: 0333 777 8131

Southampton

130 Bournemouth Road
Eastleigh
Hampshire
SO53 3AL

Tel: 0333 777 8131