Accounting and tax support for short term landlords
Who We Help
Accountants for holiday lets
Holiday lets have become a popular choice for property investors looking to make income from short-term furnished holiday letting
Accountants for holiday lets
Holiday lets have become a popular choice for property investors looking to make income from short-term furnished holiday letting. With platforms like Airbnb gaining popularity, more and more people are venturing into the world of holiday let properties. Holidays lets continue to be popular and appeal to a broad range of investors due to the yields and tax advantages compared to buy-to-let, with the added benefit of being able to occasionally use the property. However, managing the accounting for these holiday properties can be complex and time-consuming. That’s where Sherwin Currid, experts in accounting for holiday lets, come in. Whether you own a furnished holiday let property or you’re using Airbnb to rent out your property, we offer a range of accounting services tailored to meet your needs and ensure that you make the most of your investment from a tax perspective.
Holiday lets and Airbnb
If you’re involved in the business of holiday letting or using platforms like Airbnb to rent out your property, accounting can become overwhelming. Tracking all of your expenditure and revenues can be confusing and complicated. Sherwin Currid understands the unique challenges that come with accounting for holiday lets and has the expertise to guide you through the process.
Why choose Sherwin Currid?
Our team of specialist property accountants will be able to take you through, in an easy to understand way, the implications of letting out a holiday home and the tax matters that impact you, including the taxation of residential property income. We have over a decade of experience working with numerous clients in the holiday accommodation industry and our team are all knowledgeable and proactive about the tax matters that impact you, including the various tax advantages from which you may benefit.
We offer a comprehensive accountancy package that will look after all of your accountancy needs, freeing up more of your time to focus on promoting your own business and property to make sure you maximise your revenue while we help you keep as much of it as possible. Your dedicated accountant will keep track of your business and advise you on occurrences such as crossing the VAT threshold or how to make your self assessment more tax efficient. This help is vital, especially for new owners, as it allows you to rest assured that your accounting needs are being met.
We offer a wide range of accountancy services and are willing to bespoke a package to suit your exact needs. If you would like a free consultation to get a fixed quote for our accountancy services then please do not hesitate to get in touch to arrange your free consultation.
Special purpose vehicle for property
A Special Purpose Vehicle (SPV) is where a limited company is set up for one specific purpose. It is common in property investing where a real estate investor may set up a limited company with the sole purpose of buying and holding a property.
Utilising a SPV could potentially be a way for you to save tax, for instance properties held in limited companies may still be able to claim mortgage interest tax relief and therefore this can make them a more tax efficient way of managing a property. There are, of course, drawbacks to SPVs such as the amount of additional compliance work required for running a limited company and the implications of capital gains tax.
Conferring with an accountant can help you decide on the best route for you to take with your holiday let and our specialists at Sherwin Currid will take the time to make sure you understand the pros and cons before you make any decisions. As our client, you can rely on us to provide sound tax advice and effective tax planning, from a source that you know and trust.
A wide range of accountancy services
Sherwin Currid offers a comprehensive range of accountancy services for holiday let property owners. Some of the services that we provide are:
- Company formation
- VAT registration
- Quarterly VAT returns
- Annual accounts
- Filing confirmation statements with Companies House
- Filing your corporation tax return
- Handling a monthly payroll
- Access to online accounting software
- Unlimited support from your dedicated accountant
- And much more…
All of our clients have their own dedicated, personal accountant who will take the time to get to know you and your specific situation so that they are best placed to offer you advice on how to structure your business in the most tax deductible way possible. By partnering with Sherwin Currid for your accountancy needs you are gaining a trusted advisor that will help you get the most out of your properties.
Expertise of an ACCA firm
Our team here at Sherwin Currid have considerable expertise when it comes to looking after both residential and non residential property, including rental income and capital allowances. We will review your setup each tax year and ensure that you are making savings on your rental property wherever possible.
Cloud accounting for property owners
Using cloud accounting software is the future of bookkeeping and accounting. We work with a variety of software providers to ensure that our clients get the best package for them. Some of the providers that our clients use include FreeAgent, Xero, QuickBooks, Dext and more. All of these options provide a simple to use service that you can access from your phone or laptop.
We believe that using cloud accounting allows us to provide you with a better service. Our team can see your financial data in real time and offer you tips and advice on managing your cash flow. By simplifying your processes into an easy to use app you make sure that we have all of the information we need to complete various parts of your compliance work. With cloud accounting software you can spend less time on your accountancy and more time focused on your properties.