Landlords

We provide a wide range of services to meet your needs, whether you're an experienced landlord or looking to begin building your property portfolio.

Advice

Deciding whether to build your property portfolio personally or via a company can be daunting. We can help work through the advantages of each and provide advice.

Personal portfolio

We can help with preparing and filing your self-assessment tax return, ensuring that you are claiming all relevant costs.


From April 2026, you may need to comply with Making Tax Digital for Income Tax. We can support you with this.


When you sell a property, you may need to file a capital gains tax return within 60 days. We can provide advice on this and help with the preparation and submission.


If you've been letting a property and not declaring the profits to HMRC then we can help with filing a disclosure. HMRC have access to information from a variety of sources and it's much better to approach them than to wait for a letter.

Property company

We can help with preparing and filing your company accounts and tax return, ensuring that you're complying with your duties as a director.

Calculator and a house on a desk
by Chrissy Leach 28 July 2025
If you’re a landlord or property investor in the UK, you might be wondering: Does VAT apply to rental income? When should a landlord register for VAT? What about VAT on commercial property? VAT and property can be complex, but understanding the basics could help you make better investment decisions and avoid costly mistakes. At CJL Accountancy, we help landlords navigate VAT, tax, and property finances with confidence. Here's your essential guide to VAT for landlords. Is There VAT on Residential Rental Income? In most cases, residential rental income is exempt from VAT. This means: ✅ You do not charge VAT to your residential tenants. ❌ You also cannot reclaim VAT on expenses related to residential lettings. Common residential lettings that are VAT-exempt: Houses, flats, apartments rented to private tenants Student accommodation Housing association lets However, because the income is exempt, you can't reclaim VAT on: Repairs and maintenance Estate agent or letting agent fees Legal and professional costs Are There Exceptions for Residential Property VAT? Yes, if you let out properties as holiday accommodation, you may need to register and charge VAT. See our general VAT guide here. VAT on Commercial Property For commercial property, VAT works differently. Commercial property rental is generally exempt from VAT, but landlords can "opt to tax”, allowing them to: ✅ Charge VAT on rent (typically at 20%) ✅ Reclaim VAT on associated costs (repairs, refurbishments, professional fees) This is especially useful if: You’re leasing to VAT-registered businesses You’ve incurred VAT on refurbishment or construction You want to recover VAT on professional services Opting to Tax: Things to Consider Once elected, the option usually applies for 20 years. Opting to tax can complicate matters for tenants who are not VAT-registered. You must formally notify HMRC when opting to tax. Should a Landlord Register for VAT? You must register for VAT if your VAT-taxable turnover (from holiday lets, opted commercial property rents, or other taxable activities) exceeds £90,000 in a 12-month period. If your activities are a mix of exempt (e.g. residential rent) and taxable (e.g. holiday lets, opted commercial property) then it can be complex. Can Landlords Reclaim VAT? ✅ On residential lettings: No - unless it's a holiday let or part of a taxable business. ✅ On commercial property with an option to tax: Yes - you can reclaim VAT on related expenses. How CJL Accountancy Can Help Landlords At CJL Accountancy, we help residential and commercial landlords with VAT registration and compliance. Quick FAQs – VAT for Landlords Q: Do I need to charge VAT on residential rent? A: No, residential rent is usually VAT-exempt. Q: Do I charge VAT on commercial property rent? A: Not by default, but you can opt to tax and charge VAT to reclaim expenses. Q: What about holiday lets? A: If your holiday let income exceeds £90,000 in 12 months, you must register for VAT and charge it on bookings. Q: Can I reclaim VAT on a property refurbishment? A: Only if the property is part of a taxable supply, like an opted commercial property or a holiday let. Final Thoughts VAT for landlords can be complex, especially if you have mixed residential and commercial property. Getting the VAT treatment right can save you money - or help you avoid costly penalties. Contact CJL Accountancy today to get clear, practical advice for your property business.
UK business owner verifying ID and submitting digital filings via software
by Chrissy Leach 7 July 2025
Companies House are implementing some of the biggest changes in recent years for limited companies in the UK. These reforms aim to improve transparency, combat economic crime, and ensure greater accountability. As a business owner or director, you must understand how these updates affect you. Here at CJL Accountancy Limited, we're helping clients across the UK stay compliant and ahead of the curve. Here's what you need to know. 1. New Identity Verification Rules for Company Directors A key change is the mandatory identity verification for: All company directors People with significant control (PSCs) Anyone filing documents on behalf of a company This is part of the Economic Crime and Corporate Transparency Act and aims to prevent fraudulent company formations and misuse of the UK corporate register. What this means for you: If you're a director or PSC, you'll need to verify your identity through Companies House directly or via an authorised agent. Unverified individuals will not be allowed to act as directors or file information which may lead to late filing penalties and possibly legal action. There's no firm deadline for this at the moment but Companies House say it will be mandatory from the Autumn. You can complete your ID verification now and you will be given a unique code which is personal to you and can be used for all of your companies. 2. Mandatory Filing via Software Companies House will soon no longer accept paper forms or outdated digital filing methods. All filings - including confirmation statements, changes to company information, and annual accounts - must be submitted using approved software. Why this matters: You’ll need to use approved software that’s compatible with Companies House systems. If you currently file yourself or use basic digital forms, this may require an update. Our solution: At CJL Accountancy Limited, we already use compliant filing software to manage submissions for our clients, so you're covered. 3. Changes to Your Company’s Accounting Period Companies House is tightening the rules on changing accounting reference dates. Right now, companies can routinely extend their financial year, but in the future, this flexibility will be restricted. You will no longer be allowed to extend your accounting period multiple times in succession or for non-commercial reasons. Plan ahead: If you’re considering changing your company’s year-end, talk to us first. We’ll assess the pros, cons, and whether your change would be permitted under the new rules. 4. Filing Your Profit and Loss (P&L) Account Perhaps the most impactful change is that small and micro companies will now have to file their Profit and Loss account at Companies House from 1 April 2027. At the time of writing, there are news articles suggesting that this requirement may change but the legislation allows for this to be implemented. Previously, small and micro-entities could file abridged or filleted accounts to keep sensitive information private. These exemptions are being removed to improve transparency. What’s changing: Micro and small companies will no longer be able to “fillet” accounts Your company’s turnover and profits will now be visible to the public If you'd like limited liability then this will be a cost of achieving that. You may have other options such as operating as a sole trader, partnership or unlimited company. We can talk through these options with you. How CJL Accountancy Can Help The upcoming changes may feel overwhelming - but you don’t have to face them alone. At CJL Accountancy Limited, we specialise in helping limited companies stay compliant, reduce stress, and focus on growth. ✅ We file everything through approved software ✅ We ensure your accounts are prepared to the new standards ✅ We keep you informed of all deadlines and rule changes
Alarm clock with Tax post it note stuck on
by Chrissy Leach 30 June 2025
Don’t worry - this is completely normal if you’re registered for Self-Assessment. Let’s break it down so you can fully understand why this July payment is due and how Payments on Account work. What Is the July Payment on Account? In the UK Self-Assessment system, many taxpayers are required to make Payments on Account - advance payments towards their future tax bill. Payments on Account help spread your tax liability across the year, instead of paying your entire tax bill in one lump sum after the year has ended. Who Has to Make Payments on Account? You’ll usually need to make Payments on Account if: Your tax bill for the previous tax year was over £1,000, and Less than 80% of your tax was collected through PAYE or other deductions at source This typically applies to: Self-employed individuals Landlords with rental income Investors and individuals with significant untaxed income How Do Payments on Account Work? Here’s a simple example: You complete your Self-Assessment for the 2023/24 tax year and owe £4,000. HMRC assumes your income for 2024/25 will be similar. You are asked to make two Payments on Account towards 2024/25: £2,000 due by 31 January 2025 (first instalment) £2,000 due by 31 July 2025 (second instalment) When you file your 2024/25 tax return, the actual tax owed is calculated. If you’ve overpaid, HMRC will refund you. If you’ve underpaid, you’ll settle the balance by 31 January 2026. Payments on Account vs PAYE: Why Is It Different? If you’ve previously worked under PAYE (Pay As You Earn), tax feels much simpler — that’s because: Your employer deducts tax and National Insurance from your salary each payday You’re always paying tax as you earn — in real time There are no large bills at the end of the year (unless your tax code is wrong) With Self-Assessment, HMRC needs a way to collect tax on income that isn’t automatically taxed - like self-employment income, rental profits, dividends, or side hustles. Since your tax isn’t deducted automatically, Payments on Account help HMRC collect your tax in advance based on your previous year’s income, similar to how PAYE collects it throughout the year. Can I Reduce My July Payment? Yes. If your income has dropped or you expect to owe less tax for the current year, you can apply to reduce your Payments on Account. This can help ease cash flow, but you need to be careful - if you reduce your payments too much and still owe more tax when you file your return, HMRC will charge interest on the shortfall. What If I Can’t Afford My July Tax Payment? HMRC can sometimes agree to a Time to Pay arrangement, allowing you to spread your tax payments over a longer period. The key is to act early - the sooner you speak to HMRC, the more options you may have. Quick Recap The July payment is an advance instalment towards your next tax bill. Self-Assessment taxpayers usually pay twice a year: January and July. PAYE employees pay tax automatically throughout the year - Self-Assessment taxpayers don’t. Payments on Account help HMRC collect tax more evenly across the year. You may be able to reduce payments if your income has fallen. Help is available if you’re struggling to pay. Need help with your Self-Assessment or Payments on Account? At CJL Accountancy, we help individuals and businesses navigate the UK tax system with confidence. If you're unsure how much you need to pay or whether you can reduce your Payments on Account, we're here to support you. 👉 Contact CJL Accountancy Today
House made of money
by Chrissy Leach 23 June 2025
What is Capital Gains Tax? Capital Gains Tax is a tax on the profit (gain) you make when you sell or dispose of an asset that has increased in value. It’s the gain that’s taxed, not the total amount you receive. For example: You bought a property for £200,000. You later sell it for £300,000. Your gain is £100,000 (less any allowable costs). CGT applies to individuals, partnerships, and trustees. Companies pay Corporation Tax on chargeable gains instead. When Does CGT Apply to Property? You may need to pay CGT when you dispose of: A second home or holiday home. A rental or buy-to-let property. A property you’ve inherited and then sold (if it's not your main residence). Land. In most cases, you won’t pay CGT on your main home due to Private Residence Relief - but there are exceptions, especially if you've let the property out, used part of it for business, or if it’s grounds are very large. How is CGT Calculated on Property? Calculate your gain: Sale proceeds – Purchase price – Allowable costs (e.g. legal fees, stamp duty, estate agent fees, certain improvement costs) = Chargeable gain Apply your CGT allowance: For 2025/26, the annual CGT allowance (Annual Exempt Amount) is £3,000 for individuals. Companies don't get an allowance and it's a different rate for Trustees. Apply the correct tax rate: The tax rate you pay depends on your other income in the year. The rates for 2025/26 are 18% in the basic rate band and 24% in the higher rate band. Example Calculation Sale price: £350,000 Purchase price: £250,000 Allowable costs: £10,000 Gain: £90,000 Less annual allowance (£3,000): £87,000 If you're a higher rate taxpayer: CGT due: £87,000 × 24% = £20,880 Reporting and Payment Deadlines For UK residential property disposals, you need to submit a CGT return to HMRC and pay any CGT due within 60 days of completion. There may be exemptions to this reporting and payment deadline for UK tax residents but non-residents will always need to comply, regardless of whether there is any tax payable or not. For overseas properties, you will need to submit and pay via your usual annual self-assessment tax return. Failure to report on time can result in penalties and interest charges. Reducing Your CGT Liability There may be ways to minimise your CGT bill, including: Private Residence Relief (if applicable) Lettings Relief (limited and specific) Spousal transfers to utilise both allowances Timing disposals to maximise allowances and lower rates Claiming all allowable costs and deductions Professional advice is highly recommended, especially as property disposals can involve complex rules. How CJL Accountancy Can Help At CJL Accountancy, we specialise in helping property owners, landlords, and investors navigate the complexities of Capital Gains Tax. Whether you're planning a sale, need help with reporting, or want to explore tax-saving opportunities, our expert team is here to support you. 📞 Contact us today to book a free consultation and ensure your property sale is as tax-efficient as possible.
House on a clipboard with keys and a pile of money
by Chrissy Leach 16 June 2025
1. Mixing Personal and Rental Finances One of the biggest mistakes is using one bank account for both personal and property-related transactions. Keep a separate account for rental income and expenses to stay organised and simplify tax preparation. 2. Poor Record-Keeping Missing receipts, unclear expenses, and forgotten income entries can lead to overpaying tax or facing HMRC penalties. Keep detailed records of: Rental income received Repairs and maintenance Mortgage interest Letting agent fees Insurance, council tax, and utilities (if you pay them) 3. Not Using Software Modern accounting software like Xero or FreeAgent can automate much of the bookkeeping, track income and expenses, and generate reports at the click of a button. 4. Ignoring Allowable Expenses You may be missing out on valuable deductions. Common allowable expenses include: Property repairs Accountancy fees Landlord insurance Mileage for property visits Make sure you claim everything you're entitled to, including the tax reducer available for mortgage interest. 5. Forgetting Tax Deadlines Late submissions or payments can result in penalties. Stay on top of key dates for Self Assessment and ensure you file and pay on time. At CJL Accountancy, we help landlords maximise profits and stay HMRC-compliant. Get in touch for support tailored to your property portfolio.
Coins falling into hand
by Chrissy Leach 19 May 2025
How Long Should a Tax Refund Take? Typically, HMRC aims to process tax refunds within: 5 working days if submitted online and payment is made directly to your bank Up to 8 weeks if your return is more complex or requires additional checks However, during busy periods like January (Self Assessment deadline) or April (end of the tax year), delays are common. Why Might Your Refund Be Delayed? There are a number of reasons HMRC might take longer than expected: Security Checks - HMRC may flag your return for additional verification to prevent fraud. These random checks can delay your refund by several weeks. Errors or Inconsistencies - if your tax return contains mistakes, mismatched information (such as figures not matching PAYE data), or missing documentation, HMRC may pause the process to investigate. Outstanding Debts - HMRC may offset your refund against any unpaid tax, student loan, or other government debts. This can lead to a reduced refund—or none at all. System Backlogs - Especially during peak times, HMRC’s systems and teams get overwhelmed, which causes processing delays across the board. What You Can Do About It If you’re facing a delay, here’s how to take action: Check Your Online HMRC Account - log in to your HMRC personal tax account to check that your tax return has been received, if your refund has been issued or if HMRC has sent you any messages about additional checks or missing info. Where's my reply - you can check here when you should receive your refund based on how and when it was requested. Contact HMRC - if the date on Where's my reply has passed, you can contact HMRC to chase the refund. Be sure to have your UTR (tax reference) or National Insurance number handy. Tips to Avoid Future Delays File your return early to miss the busy periods Double-check all figures and details Make a note of when you should receive your refund and chase as soon as that has passed At CJL Accountancy, we understand how stressful waiting for money you're owed can be. If your refund has been delayed or if you're unsure whether your return was filed correctly, we’re here to take the stress off your shoulders. 📩 Get in touch today for friendly, jargon-free advice and support.
Calendars
by Chrissy Leach 12 May 2025
What Happens If You Miss the Deadline? 2023/24 tax returns were due to be filed by 31 January 2025. HMRC's penalty system is designed to encourage timely filing. Here's what you can expect: Immediate £100 fine as soon as the 31 January deadline is missed. £10 per day for up to 90 days starting May 1, 2025 - that's an additional £900 if you still haven’t filed. Further penalties if your return is more than 6 or 12 months late, based on the tax owed. Can You Appeal a Penalty? Yes, but only in certain circumstances. Remember, it's Self-Assessment - it's your responsibility to tell HMRC if you need to file a return, even if they've previously told you that you didn't need to, based on older information. HMRC will consider appeals if you had a reasonable excuse such as: Serious illness Bereavement Unexpected delays (e.g. postal strikes, software failures) You must appeal within 30 days of the penalty notice and provide supporting evidence. What Should You Do Now? File your return as soon as possible. Even if you can’t pay your tax bill right away, filing stops further daily penalties. Pay what you can. You’ll reduce interest and might avoid further late payment penalties. Speak to an accountant. A professional can help you navigate penalties, appeal if needed, and arrange payment plans with HMRC. To stay ahead of the game next year: Keep digital records year-round Use accounting software or outsource to a trusted accountant Set calendar reminders for key deadlines At CJL Accountancy , we help individuals and small businesses stay compliant and penalty-free. If you’re unsure what to do next, get in touch for no-obligation support. Need help with your tax return or penalties? Contact us today - we're here to help you get back on track.
Stressed business owner at laptop
by Chrissy Leach 28 April 2025
Whether you're self-employed or running a small limited company, managing your finances can sometimes feel like juggling blindfolded. While it might be tempting to go it alone, there comes a time when calling in a professional isn’t just helpful, it’s essential. 1. You're Spending Too Much Time on Finances If you’re spending hours each week wrestling with spreadsheets, chasing invoices, or trying to decode tax rules, that’s time you’re not spending growing your business. An accountant can help streamline your processes and free up your schedule. 2. You’re Not Sure What You Can Claim Business expenses can be a minefield. If you're uncertain about what qualifies as an allowable expense (and what doesn’t), you could be missing out on tax relief—or worse, risking a fine. An accountant can help you claim everything you're entitled to. 3. You’re Worried About Making a Mistake From tax returns to payroll, there’s a lot that can go wrong. If you're constantly second-guessing your figures or dreading HMRC letters, working with an accountant brings peace of mind with accurate, compliant filings. 4. You’re Planning to Grow Thinking of hiring, investing in equipment, or taking on a new premises? Growth is exciting, but it’s also the perfect time to get financial advice. An accountant can help you plan sustainably and avoid cashflow pitfalls. 5. You’re Not Sure About Your Business Structure Sole trader or limited company? If you’re unsure which structure is best for you, an accountant can explain the pros and cons, and help you choose the best option. 6. Your Tax Bill Was a Shock If your last tax bill left you reeling, or you had no idea how much you owed until the deadline loomed, it’s a clear sign you need more proactive financial management. 7. You Want to Pay Yourself Properly Getting paid from your business isn’t always straightforward. Should it be salary, dividends, or both? An accountant can help you take money out of your business in the most efficient way. 8. You're Not Using Accounting Software Still using paper cashbooks? An accountant can help set you up with a spreadsheet or easy-to-use accounting software that saves you time, keeps you organised, and gives you a real-time picture of your finances. 9. You Want to Plan Ahead Whether it’s budgeting, forecasting, or planning for retirement, an accountant can help you look beyond the day-to-day and take control of your financial future. 10. You Just Don’t Like Numbers And that’s okay! If doing your accounts fills you with dread, it’s a sign to hand them over to someone who actually enjoys it (yes, we exist!). At CJL Accountancy , we’re here to make your life easier. Whether you’re just starting out or already well established, we can take the stress out of your finances and help you build a stronger business. Ready to stop stressing about your books? Get in touch today and let’s chat.
New year disco ball
by Chrissy Leach 7 April 2025
This year brings several significant tax adjustments, which could affect both individuals and businesses. Key Tax Changes Effective 6 April 2025 1. Employer National Insurance Contributions (NICs): - The rate for employer NICs has increased from 13.8% to 15%. - The threshold at which employers begin paying NICs has decreased from £9,100 to £5,000. This means businesses will incur higher employment costs, potentially influencing hiring decisions and wage structures, ultimately affecting employees. 2. Employment Allowance - This is an allowance against employers NI and has increased from £5,000 to £10,500. - It is also open to more employers as you can now claim if your employer NI in the previous year was over £100,000, however, you’re still unable to claim if the only person on the payroll is a director. 3. National Minimum Wage (NMW): - NMW increased from 1 April 2025 to £12.21 per hour for those aged 21 and over, £10.00 for those aged 18-20 and £7.55 for under 18’s or apprentices. 4. Stamp Duty Land Tax (SDLT): - The temporary reductions in SDLT stopped on 31 March 2025 so new purchases will be at the higher rates. 5. Business Asset Disposal Relief (BADR): - BADR is a reduction in capital gains tax for sales of business or company shares (where you’re an employee or director) – various criteria apply. - The rate has increased from 10% to 14%. 6. Non-Domiciled ('Non-Dom') Tax Status Abolition: - The government will abolish the non-dom tax regime, which previously allowed certain residents to avoid UK taxes on foreign income. This change may influence the residency decisions of high-net-worth individuals and could have broader economic implications. 7. Late Payment Interest Rates: - HMRC will increase interest rates on late tax payments to 8.5%, effective from 6 April 2025. This adjustment aims to encourage timely tax payments and ensure fairness among taxpayers. 8. ISA’s - Although nothing has been announced yet, HMRC are looking at potentially reducing the ISA allowances later in the year. Tax Rates and Thresholds The income tax rates and thresholds remain unchanged from previous years rather than increasing in line with inflation which means that people pay more tax as their incomes increase. This is known as fiscal drag. Implications for Taxpayers The combination of these tax changes and the effects of fiscal drag underscore the importance of proactive financial planning. Individuals and businesses should: Review Financial Plans: Assess how the new tax rates and thresholds impact your financial situation and adjust budgets accordingly. Seek Professional Advice: Consult with tax professionals to explore strategies that mitigate increased tax liabilities, such as tax-efficient investments or restructuring income. Stay Informed: Keep abreast of tax legislation changes to ensure compliance and optimize financial decisions. At CJL Accountancy, we are committed to guiding you through these changes and helping you navigate the complexities of the evolving tax landscape. For personalised advice and support, please contact us.
Spring daffodils
by Chrissy Leach 31 March 2025
Building upon previous initiatives, the Chancellor introduced a series of robust measures aimed at closing the tax gap. Enhanced Investment in HMRC The government plans to invest further in HM Revenue & Customs (HMRC), focusing on advancing cutting-edge technology and expanding HMRC's capacity to tackle tax avoidance more effectively. The objective is to increase the number of tax fraud prosecutions by 20%, which is projected to raise an additional £1 billion annually by 2029-30. Consultation on New Anti-Avoidance Measures In a move to further tighten the noose on tax avoidance, the government has launched a consultation titled "Closing in on Promoters of Tax Avoidance." This initiative seeks public and professional input on proposed measures that would grant HMRC additional powers and impose stronger sanctions on those promoting tax avoidance schemes. The goal is to disrupt the business models of the few remaining promoters and contribute to reducing the tax gap associated with marketed tax avoidance. Implications for Taxpayers and Advisors These developments signal a clear message: the government is intensifying its efforts to ensure compliance and fairness within the tax system. Taxpayers and their advisors should be vigilant and proactive in understanding these changes to avoid inadvertent non-compliance. Engaging with professional advisors who are abreast of the evolving tax landscape is more crucial than ever. Conclusion If you’re looking for peace of mind then book a call with CJL Accountancy; we can help you stay compliant.
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