Rental property is one of the most effective ways to build long-term wealth, but it comes with a complex set of tax rules that many landlords never fully get to grips with. From the mortgage interest restriction to capital gains tax on sale, getting it right can be the difference between a profitable portfolio and an unexpected HMRC bill. I Sumar & Co accountants are helping landlords across the UK pay the right amount of tax, and not a penny more.
Common Problems We Solve
We regularly help property clients who:
-
are unsure which expenses they can claim against rental income
-
do not understand how the mortgage interest restriction affects them
-
have sold, or plan to sell, a property and are unsure about capital gains tax
-
are considering moving properties into a limited company
-
own several properties and want to hold them more tax-efficiently
-
need to bring previously undeclared rental income up to date with HMRC
What We Do for Landlords & Property Investors
-
Self Assessment returns covering all rental income and allowable expenses
-
Advice on the mortgage interest restriction and how to reduce its impact
-
Capital gains tax calculations and reporting on property sales
-
Incorporation advice — whether a company structure suits your portfolio
-
Guidance on Stamp Duty Land Tax for property purchases
-
Buy-to-let bookkeeping and record keeping
-
Portfolio management accounts across multiple properties
-
Making Tax Digital readiness for landlords
Landlord & Property Tax - Frequently Asked Questions
Individual landlords can no longer deduct mortgage interest from rental profits in the way they once could; instead relief is now given as a basic-rate tax credit. For higher-rate taxpayers this is a real cost, and a company structure is sometimes more efficient. We will advise on what suits your situation. The current rules are set out at gov.uk.
It depends on your total income for the year, how long you owned the property, and whether it was ever your main home. We calculate this before you sell so there are no surprises, and we handle the reporting to HMRC within the required deadline.
Yes. All rental income must be declared on your Self Assessment return, however many properties you own. We help landlords get fully up to date, including any earlier years that were missed.
