• Skip to primary navigation
  • Skip to main content
  • Skip to footer

Top notice bar

Call us on 08000 388799

Avanti Tax Accountants HomepageAvanti Tax Accountants

Bookkeeping, Accountancy and Taxation services

  • Home
  • About Us
  • Our Services
    • Bookkeeping & Accountancy
    • Corporation & Personal Tax
    • Payroll & CIS
    • Company Secretarial Bureau
    • Budgeting, Forecasting & Business Valuations
    • Mentoring & Business Coaching
    • Software & Training
  • Our Accountants
  • News & Insights
  • Send An Enquiry
Home » News & Insights » Year End Planning Tips For Landlords

Year End Planning Tips For Landlords

Posted on 9th February 2021

A few housekeeping tips for those with buy to let or holiday let properties to think about and action – if applicable – before the end of the current financial year, 5 April 2021.

Buy-to-let

  • Have you experienced a drop in rental income since April 2020? If yes, make sure you let us have estimates of your buy-to-let income and expenses to say 31 December 2020 (covering the nine months from 1 April 2020) and we will see if an election to reduce tax payments on account is possible.
  • If you are contemplating repairs to your property(ies) consider the timing of expenditure. Incurring costs before or after 5 April 2021 will affect your tax payments.
  • If you have improved your rental property during 2020-21, please keep details as we will need those if and when you come to sell the property.
  • In 2023, you may need to computerise your record keeping meeting HMRC’s Making Tax Digital regulations. There are a number of cloud based software packages you could use. 

Holiday Let Properties

  • To retain the tax advantages you enjoy – holiday let property businesses are treated as trades – you must meet certain occupancy rules. As it is likely occupancy has dropped during 2020-21 due to lock-down periods, a review is critical.

MJB Avanti can help. Please call (08000) 388 799 if you need more information on any of the above matters. 

Source: Informanagement

Share this post:

Share on TwitterShare on FacebookShare on LinkedInShare on E-mail

Filed Under: News

Disclaimer:- The information contained herein is given by way of general guidance only and no action should be taken solely on the basis of the information contained herein. The Avanti Group (UK) Ltd will be pleased to provide further guidance on the issues, and how they might affect you. No liability is accepted by the firm for any action taken without seeking appropriate professional advice

Footer

Navigate

  • Find An Accountant
  • About Us
  • News & Insights
  • Privacy Policy
  • Letter Of Engagement

Our Services

  • Software & Training
  • Mentoring & Business Coaching
  • Budgeting, Forecasting & Business Valuations
  • Company Secretarial Bureau
  • Payroll & CIS
  • Corporation & Personal Tax
  • Bookkeeping & Accountancy

Get In Touch

Tel: 08000 388799
Send us an enquiry

  • Facebook
  • Instagram
  • Twitter
Copyright © 2023 Avanti Tax Accountants · All Rights Reserved
Part of The Maurice J Bushell & Co Ltd Franchise (UK) Ltd · Company Reg: 10407313 and The Avanti Group (UK) Ltd · Company Reg: 04635630 · Created by Purple Hippo
  • So we can contact you to discuss your enquiry
  • So a member of our team from your area can contact you
  • By clicking ‘Send Enquiry’ you agree to receive contact from Avanti Tax Accountants using the details given above. We respect your personal information and your privacy and will not share or sell your information to other organisations. Please read our Privacy Policy for more information.
  • This field is for validation purposes and should be left unchanged.