Accounting for landlords and property investors.
Accurate rental accounts, a tax return that reflects the rules correctly, and clear advice on how your property income is reported.
- Rental accounts prepared
- Self Assessment filed
- Clear, measured advice
What landlords need to get right
Income and expenses across properties
Rent, agent statements, service charges and repairs need to be recorded per property to produce meaningful accounts.
Repairs versus improvements
Revenue repairs are deductible against rental income; capital improvements are treated differently. The distinction matters.
Finance costs
Relief for mortgage interest for individuals is restricted and given as a basic-rate reduction rather than a deduction.
Ownership structure
Holding property personally, jointly or through a company each have different tax and administrative consequences.
Selling a property
Disposals can create capital gains tax obligations with their own reporting and payment requirements.
Digital reporting
Making Tax Digital for Income Tax will change how property income is recorded and reported for many landlords.
How Goodman Accounting can help
We prepare the figures accurately and explain your position plainly. We do not make promises about tax savings — we tell you what the rules mean for you.
Property income accounting
Rental accounts prepared per property, so you can see what each one actually produces.
Self Assessment
Property income reported correctly alongside your other income, filed on time.
Record keeping
Simple digital records for rent, agent statements and costs, ready for digital reporting requirements.
Repairs and capital review
Costs reviewed and classified correctly, with the reasoning explained.
Structure discussions
An honest comparison of personal and company ownership for your circumstances, including the costs of changing.
Disposal planning
Guidance on the reporting and payment obligations before you sell, not after.
The services landlords usually need.
A typical property tax year
Record rent and costs
Income and expenses are captured per property through the year.
Review classifications
We check repairs, improvements and finance costs are treated correctly.
Prepare rental accounts
Accounts are produced after the tax year ends, showing each property's result.
File the tax return
Property income is reported within your Self Assessment and submitted once approved.
Plan ahead
We confirm the tax due and discuss anything upcoming, such as a purchase or disposal.
Questions we are asked most.
If your question is not here, ask us directly — an initial conversation costs nothing.
Ask a questionDo I need to complete a tax return for rental income?
Usually yes, once rental income exceeds the relevant allowances. We can confirm your position and register you if needed.
Which costs are deductible?
Costs incurred wholly and exclusively for the rental business, such as agent fees, insurance, repairs and certain professional costs. Improvements are treated as capital.
How is mortgage interest treated?
For individually held property, finance costs are not deducted from profits in full; relief is given as a basic-rate tax reduction instead. We apply this correctly in your return.
Should I hold property through a company?
It suits some landlords and not others. Transfers can trigger tax and financing costs, so we look at your specific position before advising.
What happens when I sell?
A disposal may create a capital gains tax liability with reporting and payment obligations shortly after completion. Speak to us before you exchange.
Chartered expertise. Personal service.
A modern chartered practice offering both the compliance work you have to do and the financial insight that makes it worth doing.
Same-Day Responses
We know how frustrating it can be waiting days for an answer. We aim to respond to client queries on the same working day, so you can get the support you need quickly.
Clear, jargon-free advice
We explain what the numbers mean in plain English, what you owe, when it is due and what your options are before decisions are made.
Cloud-based and low admin
Modern accounting software, bank feeds and receipt capture mean less paperwork for you and records that stay up to date all year.
Fees agreed upfront
You know the scope and the cost before we start. No surprise invoices for a phone call or a quick question.
Looking for an accountant?
Whether you're starting a business, approaching your next tax return or looking for better financial insight, we'd be happy to discuss how Goodman Accounting can help.