Rental income is taxable, and HMRC expects landlords to declare it accurately every year through a self-assessment tax return. Whether you own one property or a portfolio of ten, getting the numbers right matters. The rules around what you can and cannot claim against your rental income have changed significantly in recent years — mortgage interest relief in particular — and many landlords are either overpaying tax because they are not claiming everything they are entitled to, or underpaying because they are claiming things they should not be. We help landlords across Lancashire and the North West keep their rental finances organised and make sure their tax position, and their ownership structure, is correct.
Whether you have one rental property or several, we cover everything you need to stay on top of your finances and compliant with HMRC.
We keep a clear record of all the rent you receive across each property throughout the year, so that when your tax return is due everything is already organised and nothing is missing.
We record all your allowable costs throughout the year — repairs, letting agent fees, insurance, mortgage interest and others — and make sure they are all claimed correctly against your rental income.
We prepare and file your annual self-assessment, declaring your rental income alongside any other income you have, applying all available reliefs, and making sure your tax bill accurately reflects your position.
We make sure your mortgage interest is handled correctly under the current rules, applying the basic rate tax credit in the right way so your tax calculation is accurate and you are not paying more than you should.
We give you a clear view of what each property is earning after all costs, including mortgage payments, maintenance and tax, so you can see which properties are genuinely profitable.
We prepare a full set of property accounts at the end of each tax year showing your income, costs and net profit across all your properties, giving you a complete record of how your portfolio has performed.
A clear view of the real return each property is generating after tax and all costs
Accurate tax returns every year with every expense claimed and nothing overstated
Honest advice on how to structure your property ownership to minimise your tax bill
Someone to call when the rules change or you are considering adding to your portfolio
We work with you throughout the year, not just when a deadline is due.
The biggest change in recent years is mortgage interest relief. Before 2017, landlords could deduct their full mortgage interest from their rental income before calculating the tax they owed. That relief has been phased out and replaced with a basic rate tax credit, which means higher rate taxpayers are now paying significantly more tax on their rental income than they were a few years ago. Many landlords are still not fully aware of how this works or how it affects their overall tax bill.
There are still plenty of costs you can legitimately claim against your rental income — letting agent fees, repairs and maintenance, insurance, accountancy fees and certain legal costs among others. The key is knowing which costs are allowable, which are not, and how to record them correctly so that your tax return is accurate and defensible if HMRC ever asks questions.
Something we regularly see: landlords who have been completing their own tax returns and either missing allowable expenses entirely, or incorrectly claiming improvement costs as repairs. Both errors are common and both can be costly — one means you overpay tax unnecessarily, the other could trigger an HMRC enquiry.
A review of your last couple of years of returns can often identify savings or correct errors before they become a bigger issue.
Beyond your annual self-assessment, this is where a specialist accountant makes the biggest difference to your portfolio.
Personal versus limited company modelling, so you know whether holding property through a company genuinely saves you tax given your rate band and portfolio size.
Advice on the tax and stamp duty implications of transferring existing properties into a company, before you commit to anything.
Reviews of your last two years of self-assessment returns to catch missed allowable expenses or improvement costs wrongly claimed as repairs.
Capital gains tax planning ahead of any property sale, so you know your exposure and any reliefs available before you exchange.
Portfolio-wide cash flow forecasting that accounts for mortgage renewals, void periods and planned maintenance across every property you own.
Our landlord packages start at £25/month for a single rental property, covering your self-assessment tax return and ongoing expense reviews. Portfolio landlords with two to five properties typically sit at £45–£85/month, and larger portfolios or limited company structures are quoted individually, usually £100–£200/month including annual accounts and corporation tax. Fixed fee, no surprises.
It depends on your personal tax position, how many properties you own, whether you plan to expand your portfolio, and what you intend to do with the properties long term. Higher rate taxpayers with larger portfolios often benefit from a limited company structure because mortgage interest is deductible in full against company profits, whereas personal ownership only gets the basic rate credit. But incorporating an existing portfolio can trigger capital gains tax and stamp duty, so it needs modelling against your actual numbers before you decide, not a blanket rule.
Letting agent fees, repairs and maintenance, buildings insurance, ground rent and service charges, accountancy fees, and mortgage interest (via the basic rate credit) are all allowable. Improvements — extending a property, adding a bathroom, or upgrading a kitchen beyond a like-for-like replacement — are capital costs and are not deductible against rental income, which is where we see the most common mistakes.
We handle it for you. We contact your previous accountant, request professional clearance and your records, and get your portfolio set up correctly within a couple of weeks, with no gap in your compliance.
Xero, with a property-specific app layered on top for larger portfolios so income and costs are tagged by property automatically. For a single property, a well-organised Xero setup on its own is usually enough.
Yes. R&R is regulated by the Association of Chartered Certified Accountants (ACCA). All work is signed off by an ACCA-qualified accountant.
Our head office is in Blackburn, and we work with landlords and property investors in Preston, Burnley, Accrington, Chorley, Leyland, Bolton, Wigan, Bury and Manchester. Being cloud-based means your portfolio can be spread across the region without adding admin — most of our landlord clients never need to set foot in the office — but face-to-face meetings are available at our Blackburn office when you want them.
Related specialities: Owner managed businesses · Limited companies · Self-assessment tax returns · Tax planning
Book a free consultation. We’ll review your last self-assessment return, your expense claims and whether a limited company structure would save you tax, and give you three concrete things to change — whether or not you switch to us. Call 01254 839543 or book online.
Expert Chartered Certified Accountants helping North West businesses protect and grow their income.
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74 St James Road, Blackburn, BB1 8ET
We work with clients in Blackburn and across the North West, so you can get support wherever you are.
