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Are all Accountants equal when it comes to the Let Property Campaign?

In a group of accountants this week one asked if they should use losses brought forward on a client who is declaring under the let property campaign.

My answer is definitely YES! All landlords should declare their profits and Losses including those in the Let Property Campaign. The reason why?- Any losses left over can be carried forward against future profits, (except in certain types of lettings).

Miss it, miss out! Here is why…

I had a client about 8 years ago now where we created so many losses in the early years that she still doesn’t pay any tax on her rental property! Her income is over £10k per annum and yes she has other expenses as well but that initial work has saved her thousands!

My real concern is tax payers could be missing out here. If most accountants have not even heard about the Let property campaign why are they not looking to get expert advice on these matters from accountants like Marslands who actually specialise in the Amnesty. Why are they trying to go it alone as not only are there are many pitfalls in landlords accounts and tax but the the let property campaign has it own set of rules, forms etc

So No I do not believe all accountants are equal when it comes to the Let Property Campaign, would you rather your GP did your brain surgery or a Brain Surgeon?!

Michele 2-12-20

Website is live

After over a year in the making the Marslands Accountants website is finally live.

The experience has been frustrating and when you are running a business is very time consuming as well.

Would I do it again? Yes Am I happy? Yes

Why yes despite the lost time and frustrations? After 16 years in business a website needs a refresh that’s for sure, things have changed in the website world and SEO has moved on in that time. Will it bring Marslands new business, who knows?

What would I do differently? I would have gone with the recommended person in the first place, not the unknown.

What next? Doing the SEO myself seems the best as I know the words that mean the most to my customers so I need to do this on a weekly basis until each page is done.

My main reason for refreshing the website though was because in the last 7 years Marslands Accountants business model has changed and we have helped many Let property campaign landlords come clean with HMRC. This is an area where we help change peoples lives which is a passion of mine to make a difference to those landlords who have worried, sometimes for 15 years, about not declaring their property. It has become a concern for them and they don’t know where to start.

Marslands Accountants is where I want them to start and know they are in the right place and that we can help!

To find out more about the Let Property Campaign click www.gov/letpropertycampaign.co.uk

Michele 23-11-2020

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