Originally posted by 7of9
View Post
As long as rental income is covered by the mortgage interest (note interest not the repayment instalment) and other utilities expenses and it is reported by the house / flat owner as their rental profit (rental income less allowable expenses).
Originally posted by 7of9
View Post
Here are my brief thoughts on selecting an accountant
You need to go with one you like and get on with, knows the rules, regulations and one would save you tax within the law, meet the deadline filing of the tax return and payment of tax on time, easily contactable. Also some one who do not copy and paste when producing the accounts.
What you do not want is tax evasion which is illegal.
I suggest, ask all the accountant what services are covered? Also check what qualification they hold and what professional body they belong to. Also ask for the copy of an engagement letter & terms of the business. It would be a good bed time reading!
Comment