Do landlords expect too much from their accountants?

Do landlords expect too much from their accountants?

10:36 AM, 26th January 2019, About 3 years ago

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You wouldn’t expect your family Doctor to perform major surgery on you, so why do most landlords expect their accountants to provide tax planning advice and recommend the optimal structure for their business?

Most accountants work with all types of businesses, they are general practitioners in tax. Their speciality is to ensure you have recorded your income and expenses accurately and claimed for everything possible to minimise your tax bill. However, rarely will your accountants advise you to restructure your business, because that would also require them to understand property, finance and law and how it relates to the operational aspects of your business.  That’s not what they are trained or qualified to do. It’s a job for a specialist landlord tax consultant.

Unless your accountants are landlords themselves, with a similar size property business to yours, it is highly unlikely they will share the same mindset as you either.

If your accountant does have all of these qualities then you have hit the jackpot because they are extremely few and far between. That said, nobody can know everything so a second opinion could prove to be extremely beneficial anyway. Nobody has a Monopoly on good ideas.

Engaging a Property118 Landlord Tax Planning Consultant does not replace the work of your accountant.  We provide complimentary specialities and services, in much the same way as a specialist medical consultant or surgeon does when your family Doctor refers you. Property118 tax planning consultations also come with a guarantee of total satisfaction or a full refund.

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Consultations include Fact Find, expert analysis and a recorded video conference with your Property118 Consultant and your Accountant. Thereafter, our recommendations will be reviewed by Cotswold Barristers (at no extra charge). If they agree, and if you instruct them to complete the legal work to implement our suggestions, Cotswold Barristers will adopt our recommendations as their own professional advice, for which they carry professional indemnity insurance of £10,000,000 per claim. All consultations are confidential and you will be provided with a copy of the recording of the video conference. We GUARANTEE total satisfaction or a full refund.
  • Please provide an overview of your circumstances and what you are looking to achieve.
  • Property118 is unique in terms of offering tax planning consultations for a fixed fee of £400 with a guarantee of total satisfaction or a full refund.

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