Services | Property accounts

Professional property accounts for buy-to-Let investments

We provide specialised property accounts services to help landlords and property investors manage their buy-to-let investments efficiently. No matter how many properties you have, our team offers expert advice and support to manage your investments effectively.

Get expert property accounting today!

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What are property account services?

Managing property finances can be complex, and having the right accounting support makes a big difference. Our property account services are ideal for:

First-time landlords

If you're new to buy-to-let, we help you track rental income, claim allowable expenses, and stay compliant with tax regulations.

Short-term let owners

If you rent out properties on Airbnb or other platforms, we ensure compliance with tax rules, claimable expenses, and record-keeping.

Portfolio investors

If you own multiple properties or are expanding your portfolio, we provide financial structuring, tax planning, and reporting to maximise your returns.

Commercial property owners

For leasing office spaces or retail units, we assist with VAT implications, rental income management, and financial planning.

Property developers

From construction projects to refurbishment costs, we help manage financial records, VAT considerations, and profit analysis.

We can help with:

Bookkeeping

Accurate bookkeeping for property management to keep track of rental income and expenses.

Tax advice

Expert advice on tax implications and strategies to maximise returns while ensuring compliance with tax regulations.

Financial reporting

Detailed financial reports to help you understand your property’s performance and make informed decisions.

Investment structuring

Guidance on structuring your property investments to optimise financial benefits and mitigate potential issues.

Compliance

Ensuring all your property accounts comply with relevant regulations, including managing VAT and other tax obligations.

How our property accounting process works

We follow a clear and structured approach to ensure your accounts are accurate, compliant, and optimised for financial success.

Initial consultation

We start by understanding your property investments, financial goals, and accounting needs. If you're a landlord, investor, or developer, we customise our services to fit your portfolio.

Income & expense tracking

Our team ensures all rental income and property-related expenses are recorded accurately. This includes mortgage payments, maintenance costs, and allowable deductions to minimise tax liability.

Tax planning & compliance

We assess your tax position and identify ways to maximise deductions while ensuring compliance with HMRC regulations. If it’s income tax, VAT, or capital gains tax, we help you plan effectively. We also help you decide the best way to buy property, either personally or through an SPV, to make sure your investment is as tax-efficient as possible.

Financial reporting & analysis

Regular financial reports, including profit and loss statements, cash flow summaries, and portfolio performance insights, help you make informed decisions about your investments.

End-of-year accounts & tax returns

We prepare and submit your year-end accounts and self-assessment tax returns on time, for both personally owned properties and those purchased through an SPV. We ensure accuracy and compliance while aiming to reduce your tax bill where possible.

Ongoing support & advisory

Our service doesn’t stop at filing paperwork. We provide ongoing support, financial advice, and updates on tax changes that may affect your property business.

Why choose NJM Accountancy Ltd. for property accounts

Personalised service

We offer personalised support and friendly service to meet the specific needs of property investors and landlords.

Modern technology

We utilise the latest accounting software to ensure your property accounts are managed efficiently and accurately.

Maximised returns

Our aim is to maximise your investment returns while ensuring you meet all compliance requirements.

Local expertise

With our property experience and local knowledge, we offer insights and connections to help grow your property business.

FAQs on property accounts

What expenses can I deduct as a landlord?

You can deduct several allowable expenses from your rental income to reduce your tax bill. These include:

Property repairs and maintenance
Letting agent fees
Council tax and utility bills (if paid by you)
Landlord insurance
Accountancy and legal fees
Ground rent and service charges

Do I need to register for VAT on my rental income?

Most residential rental income is exempt from VAT, meaning you don’t need to register. However, VAT may apply to certain commercial properties or furnished holiday lets. If you have a mixed-use property portfolio, we can advise you on VAT implications.

How should I structure my property investments for tax efficiency?

The best structure depends on your circumstances. You can invest as:

An individual (liable for income tax on rental profits)
A partnership (shared tax responsibilities)
Special limited company for property ownership SPV - Special purpose vehicle
We can help you choose the most tax-efficient structure based on your goals.

How do I report rental income to HMRC?

If you’re an individual landlord, you must declare rental income on a Self-Assessment tax return. Limited companies must file corporation tax returns. Our team ensures your returns are accurate and submitted on time.

What records should I keep for my property accounts?

You should maintain records of all rental income, expenses, mortgage statements, tenant deposits, invoices, and receipts for at least six years. We can help you organise your records efficiently.

Do I need to pay Capital Gains Tax (CGT) when selling a rental property?

If you sell a personally owned buy to let property, you may have to pay CGT. However, allowances and reliefs may apply to reduce your tax liability. We provide tax planning strategies to minimise CGT where possible.

Can I claim tax relief on mortgage interest?

Mortgage interest relief has been phased out for individual landlords, but a 20% tax credit is available instead. If you own property through a limited company, mortgage interest can still be deducted as a business expense.

How do I handle accounting for multiple properties?

We provide property portfolio accounting to track income, expenses, and performance across multiple properties which helps you stay compliant and optimise profitability.

What are the tax implications for furnished holiday lets (FHLs)?

FHLs have different tax benefits compared to standard rental properties, such as capital allowances on furniture and lower CGT rates. We can guide you through the requirements and advantages.

Why should I use an accountant for my property business?

Property accounting can be complex, with tax rules constantly changing. An accountant ensures compliance, maximises tax efficiency, and saves you time so you can focus on growing your investments.

Improve your property management

Let NJM Accountancy Ltd. handle your property accounts and help you get the most from your buy-to-let investments in Bangor, Belfast, and throughout UK.