MSR Group has 15 years of experience dealing with property tax, we managed dozens of tax investigations including COP9 investigation and save landlord from huge penalties.
Whether you have one or more rental property, residential or commercial property, we can completely take away your hassle of keeping records, tax computation and dealing with HMRC.
How we can save you paying tax on rental income?
Landlord Accountancy Services
We will consider, all possible expenses you may have incurred including expenses like phone calls, stationary and travelling between different properties. Some examples of deductible expense are: -
Interest element in mortgage payment
Ground rent, service charges
Maintenance and repairs
Letting agents’ fees
Tax efficient utilization of basic rate tax band.
If you and your partner own the property as Joint Tenants and there is an income gap in the income of both of you, then more rental income can be allocated to the partner with lower income so that none of you cross into the higher rate tax band.
Let Property Campaign
If you are a landlord and you haven’t declared past rental profits, then this is an opportunity to disclose taxable income to HMRC on better terms than those available in an HMRC enquiry. We have experience in negotiating the most favourable terms for landlords like you.
Liasioning with HMRC
As your agent, we can represent your case; argue if any wrong tax code has been applied or if there is an error in the calculations done by HMRC.
Special-Purpose Vehicle Company!
A Special Purpose Vehicle or SPV is generally a type of company that can be set up to hold a property. Where property developers want to obtain finance for their projects an SPV is normally used as it is a company that can be used on one project only and therefore represents fewer risks and liabilities for the lenders.
Why should you set up a SPV?
If you buy a property without a SPV then you will have to buy it in your own name and pay Stamp Duty. If you then set up a SPV company you would have to effectively sell the property to the SPV and then pay Stamp Duty again. Therefore, it is advisable to set the SPV company up before you purchase a property to avoid paying Stamp Duty twice.
You will receive better mortgage rates from lenders who prefer SPV limited companies to trading limited companies as they are quicker to underwrite and easier to understand.
You will need to set the company up before the mortgage begins. However, you can apply for the mortgage before you set up the company. There is also no minimum time that your SPV limited company has to be trading for before the mortgage begins.
Free SPV limited company set up
All registration with HMRC completed on your behalf
Company registration for PAYE tax upon request (additional charge)
Full set of accounts prepared and submitted to HMRC on your behalf
Access to a FreeAgent account with the following benefits: invoice tracker, tax timeline and expenses tracker
Tailored tax planning and advice
Your own dedicated Account Manager
Unlimited support via phone and email
Minimal ongoing administration