Accounting For Tenant Improvements Paid By Landlords

Landlord contributions can be a great way to get tenants happily into a property – they can be the best of both worlds – getting you a new tenant and the tenant a new property with their desired improvements. 

The main issue with landlord contributions is that the tax disclosure can get complicated, and if you file your contributions the wrong way, HMRC may send you a hefty fine. Filing your contributions can become a time-consuming and confusing process for those who don’t have extensive experience in accounting. 

Working with a dedicated, professional accountant team can be the best way to avoid penalties. You can trust the team at Tax Kings to take the pressure off you so you can focus on your day-to-day responsibilities.

You can read about more of our landlord accounting services by clicking here. 

We price all of our services case-by-case basis and will give you a price breakdown after your initial consultation. It doesn’t matter how big or small your property portfolio is – we can still help you manage your landlord contributions.

At Tax Kings, we have years of experience working with landlords to manage their taxes and accounting. 

We use a range of HMRC accredited software to help you aid us in identifying the type of tax you will need to pay on various categories of contributions and stay up-to-date on all of your contributions.

 Here are some of the ways that we can help you manage your contributions: 

• Landlord Compliance With HMRC – HMRC can ask you to provide tax documents at any time. You must have your receipts and proof filed accurately so that you can present them with what they need when they ask for it. We can help you stay in line with HMRC by organising your proof to ensure you don’t receive any unwarranted fines. 
• Tax Awareness – We never want you to feel like you don’t know where your money is going, so we’ll explain everything to you as we do your accounting. We know it can be a little overwhelming to put your financial information into someone else’s hands, so we’ll explain it all simply. We can advise you on what taxes you need to pay as a landlord and the various contributions you will pay tax on.