Category: NEWS

Last Minute Landlord

We were approached in November by a landlord who had been renting out a property since the previous year. He thought he had plenty of time to complete his rental accounts as his first 12 months had only just ended. He then decided to look for an accountant and came across an article on the…
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A SWLA Landlord

We were approached by a landlord who was registered with South West Landlords Association. She had just began renting her property and was looking for an accountant to help her with the property tax. She decided to contact Marslands because of the good things SWLA had said about us. She also noticed from our website…
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Inherited a property

We were approached by a brother and sister who had inherited a house. They had been completing repairs on the property for the last few months which amounted to over £60k! Due to the high repairs they needed an accountant as they were confused which expenses were allowable. They didn’t want the hassle of completing…
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A busy IT consultant

An IT consultant contacted us with 4 years undeclared rental income. As he was making a loss on the property he hadn’t told HMRC because he didn’t think he had to He had a bit of a shock when he received a letter from HMRC’s let property campaign. This gave him 30 days to contact…
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A relocated naval worker

A naval worker approached us as he had been renting his house out for the past 2 years after he was posted to Portsmouth. As he was an “accidental landlord” he didn’t realise there were tax implications, as he was on PAYE he thought it was all dealt with. He saw a Marslands social media…
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Making Tax Digital – Marslands guide to sign up!

Making Tax Digital – How to sign up! We recommend you do this before your next VAT return is due by at least one month in case you hit any problems! What you will need Details to access your HMRC VAT login (if you have one) Your UTR number for the business Access to your…
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A couple with Agent and PAYE

A couple approached us about their 12 years unpaid rental income. They were professionals who pay their tax through PAYE and have an estate agent who manages their property. They wrongly assumed that the estate agent dealt with the tax for them. HMRC issued the wife with a “Let Property Campaign” letter but her husband…
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A Young Landlord

We were contacted by a young landlord with 5 years undeclared rental income. She inherited the property and had continued to rent it to the current tenants. Being naive she didn’t realise that this income was taxable! After a conversation with a friend she suddenly realised that rental income is taxable and began to panic!…
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Undeclared Landlord

A landlord contacted us after receiving a letter from HMRC about undeclared rental income for the last 3 years. The letter worried them as it gave them 30 days to respond. They tried to deal with it themselves by registering for self assessment but found it all too complicated and were unsure what to do…
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Minimum Wage Changes

On 1st April 2019 the national minimum wage for different age ranges will change. This will mean that you may need to change the wages of your employees or may be entitled to a wage rise. These changes will be: Adults (25+) from £7.83 to £8.21 Adults (21-24) from £7.38 to £7.70 18-20 Year olds from…
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