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Tax for Landlords

Looking after Tax for Landlords

The accounting process for landlords can be confusing and time consuming – let us take the burden from you. As one of the most experienced landlord tax accountants in Scotland, our dedicated and experienced team based in Glasgow and Edinburgh are well versed in offering a comprehensive accounting service for landlords of one or more properties, both commercial and residential.

Tax for Landlords

You will need to keep details of rental income throughout the year as a registered landlord in Scotland, as well as evidence of expenses. These are vital when you come to prepare your annual self-assessment tax return. It’s really important to ensure your records and accounts are kept up to date to make the process of returning your tax form easier and simple.

HMRC require a declaration each year of income from property letting – even if you do not make a profit. You may be required to pay income tax, which if undeclared, could incur a penalty or fine. The amount of tax you pay on this is subject to your total taxable income.  Taxation rates differ for landlords, depending on the amount earned through renting out a property – the higher amount you earn, the more you’ll be required to pay in tax.

Rules on Tax for Landlords

There are different rules depending on the type of property you own. Different landlord tax rules apply for residential properties, furnished holiday lettings and commercial properties.

However, you can also claim for allowable expenses. For example, for residential properties this would include but not be limited to:

  • Letting agents’ fees
  • Interest on property loans
  • Legal fees for lets of a year or less, or for renewing a lease for less than 50 years
  • Council Tax
  • Accountants’ fees
  • Buildings and contents insurance
  • Rent, ground rent, service charges
  • Maintenance and repairs to the property (but not improvements)
  • Utility bills, like gas, water and electricity

 Invest in specialist Landlord Tax Services

We are delighted to present our landlord accounts service which has been specially designed to include self-assessment tax returns and rental accounts reporting. Our expert team will assist in managing and reporting your commercial or residential tax administration, offering impartial advice when needed and ensuring that your accounts are up to date.

Property investors sign up with landlord accountants here at Tax Kings week after week – we’ll take the hassle out of dealing with your accounts and tax returns. Our great value fixed fee monthly billing packages can be arranged prior to dealing with our team.

Take the stress out of maintaining your landlord tax by utilising our easy-to-use online digital accounts applications – leaving you with more time to focus on managing your time better elsewhere. You can rest assured that this will also keep you compliant with HMRC legislation.


Contact us

Find out how we can assist your business finances and accounts today, and learn more about our monthly service packages. Speak to one of our knowledgeable advisors by calling 01413331852 (Glasgow), 01316051852 (Edinburgh) or email