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Specialist Accountants
for Buy to Let Landlords
Simplify your self assessment, prepare for Making Tax Digital and maximise your rental yields with IBISS & CO.
Being a landlord in the UK is no longer just a passive investment; it is a regulated business. Between the restriction of mortgage interest relief (Section 24), rising interest rates, and the upcoming Making Tax Digital (MTD) changes, the administrative burden on property owners has never been heavier. IBISS & CO experts act as your dedicated buy to let accountants provide more than just year end compliance. We act as your financial partner, ensuring your property portfolio remains profitable and fully compliant with HMRC evolving rules. We handle the numbers so you can focus on your tenants.
Who We Help
Tailored Accounting for Every Stage
We understand that not all landlords are the same. Whether you have stumbled into property ownership or are managing a large commercial portfolio our advice is personalised to your specific situation.
The Accidental Landlord
You may have inherited a property or moved in with a partner and decided to rent out your old home. You likely have a full time job and need someone to handle the registration for Self Assessment, explain your obligations and ensure you do not overpay tax on your rental income.
The Portfolio Investor
For those with multiple properties, cash flow management is critical. We assist with refinancing decisions, portfolio performance reviews and streamlining your bookkeeping to handle multiple revenue streams efficiently.
HMO & Student Let Owners
Houses in Multiple Occupation come with higher operational costs, strict licensing fees, and complex expense tracking. We offer specialist support to make sure you are claiming every valid deduction associated with these intensive rental models.
Non Resident Landlords
If you live overseas but rent out property in the UK, your tax obligations are distinct. You may need to register with the Non Resident Landlord Scheme (NRLS) to receive rent without tax deducted at source.
Making Tax Digital for Landlords
The way you report rental income is changing. Under Making Tax Digital for Income Tax (MTD ITSA), landlords with a qualifying income will soon be required to keep digital records and send quarterly updates to HMRC, rather than a single annual return.
This is the biggest shake-up in tax administration for a generation. If you are still using spreadsheets or a shoebox of receipts, you will need to modernise your systems before the deadline.
We help landlords transition to HMRC-recognised software such as Xero, QuickBooks, or Dext. These tools allow you to snap photos of receipts and track rent in real-time, ensuring you are compliant well before the new rules take effect.
What Expenses
Can You Claim as a Landlord?
One of the most effective ways to manage your tax bill is to ensure you are claiming all wholly and exclusively incurred expenses. We review your accounts to ensure you are utilising every allowance HMRC permits. Common allowable expenses include.
Letting Agent Fees Management fees, finder fees & tenant referencing costs.
Insurance Building, contents and rent guarantee insurance policies.
Maintenance & Repairs Routine work such as gas safety checks, painting or fixing a broken boiler. Capital improvements, like adding an extension, are treated differently.
Services Council tax, gas and electricity if paid by you rather than the tenant.
Legal & Professional Fees Costs associated with lets of a year or less or for renewing a lease.
Should I Use a
Limited Company for Buy to Let?
This is one of the most common questions we receive. Since the introduction of Section 24, many landlords are moving towards a Special Purpose Vehicle (SPV) limited company structure. However, this is not a one size fits all solution.
| Feature | Personal Ownership | Limited Company (SPV) |
|---|---|---|
| Tax Rate | Income Tax 20%, 40%, or 45% | Corporation Tax 19% - 25% |
| Mortgage Interest | Tax Credit Only (Restricted) | Fully Deductible Expense |
| Capital Gains | CGT Allowance available | No Annual Allowance |
| Admin | Simple Self Assessment | Complex Accounts + Confirmation Statement |
Incorporating an existing portfolio can trigger Stamp Duty (SDLT) and Capital Gains Tax charges if not handled correctly. Do not make this decision without a strategic review. For detailed advice on incorporation and restructuring, please visit our dedicated Landlord Tax Planning & Advice page.
We tailor our advice based on your portfolio, income bracket and future investment goals. so you never pay more tax than you legally need to.
Take Control of Your Buy to Let Tax Today!
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Common Mistakes
That Trigger HMRC
Investigations & Lost Profits
Many landlords try to handle property tax and finances themselves. While DIY accounting might save an initial fee, it often costs significantly more in the long run through overpaid tax or HMRC penalties. Here is what commonly goes wrong without specialist advice:
Poor Record Keeping & Late Filing
Missed deadlines and poor record keeping often result in immediate fines and unnecessary stress. We make sure your returns are filed accurately and on time, every time.
Mixing Personal & Property Cash
Using your personal current account for rent and repairs makes bookkeeping a nightmare. We insist on separate business bank accounts to maintain a clear audit trail if HMRC ever asks to see your records.
Missing Out on Allowable Expenses
Most DIY landlords fail to claim legitimate tax-deductible costs such as home office use or specific insurance types meaning they voluntarily overpay tax every year.
Incorrect Mortgage Interest Relief
Since the tax relief rules changed, many landlords still incorrectly deduct their full mortgage interest from rental income. This is a common trigger for HMRC enquiries and penalties.
Misclassifying Repairs vs Capital Improvements
HMRC draws a strict line between a repair deductible immediately, e.g., fixing a roof and an improvement deductible only when you sell, e.g., an extension. Getting this wrong is a primary cause of tax investigations.
Using the Wrong Ownership Structure
Without expert advice, landlords often buy properties in personal names when a Limited Company (SPV) structure could save them thousands in tax and offer better inheritance protection.
Overpaying Capital Gains Tax
When selling a property, landlords not using a specialist accountant frequently pay more CGT than necessary due to unclaimed reliefs such as Lettings Relief or poor exit planning.
IBISS Offices Location
Frequently Asked
Questions by Landlords
Do I need to file a tax return if I make a loss?
Yes. You should declare the loss on your Self Assessment tax return. This allows you to carry the loss forward & offset it against future rental profits, reducing your tax bill in profitable years.
When is the deadline for landlord tax returns?
For online returns the deadline is 31st January following the end of the tax year.
Can I claim for my own time spent managing the property?
No. HMRC does not allow landlords to claim a monetary value for their own labour or time spent managing the tenancy. You can only claim for actual costs incurred, such as mileage to visit the property.
Why Choose IBISS & CO
As Your Buy to Let Accountant?
We are an accounting firm serving landlords and property investors across the UK. Our team combines technical tax expertise with a practical understanding of the property market. We do not just file your returns. We help you build a tax efficient business model.
Ready to get your property accounts in order?
Confused Where To Start?
Schedule a Free 15-minute discovery call by providing your contact details, mentioning your requirements, and selecting a convenient date for the call.
How our discovery call works:
- Complete Our Contact Form
- Discovery Calls Scheduled
- Receive a Tailored Proposal
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