Residential Property Letting

Are you a residential landlord or considering becoming one?

If so, you’ll want to ensure that your investment is as profitable as possible.

At McGills, we specialise in providing expert advice and services to help you maximise your returns and make the most from your investment.

What can we advise you on?

Our team of experts can guide you through various aspects of residential property letting, including:

  • Understanding how tax is calculated and when it’s due
  • Identifying the tax reliefs and allowances you can benefit from
  • The Tenancy Deposit Scheme
  • The benefits of Furnished Holiday Lettings
  • Managing Capital Gains Tax (CGT)
  • Utilising the Replacement of Domestic Items Relief
  • Rent a Room scheme rules
  • Understanding the implications of selling part of a garden
  • Letting relief

At McGills, our specialist services are tailored to the needs of residential AND non-resident landlords:

McGills’ specialist services for residential landlords include:

  • Handling HMRC notifications and all relevant forms when you start letting
  • Preparing an annual lettings account to keep track of your income and expenses
  • Submitting the account with your tax return to HMRC and, if necessary, negotiating the tax liability
  • For non-resident landlords:
    • Preparing any additional forms/claims to UK allowances
    • Preparing any application for exemption from tax deduction scheming and liaising with you managing agent to avoid or minimise retention of tax from your net income
  • Advising on non-resident landlord tax impications

McGills’ specialist services for non-resident landlords include:

  • Preparing any additional forms or claims to UK allowances
  • Applying for exemption from tax deduction schemes and coordinating with your managing agent to avoid or minimise tax retention from your net income
  • Advising on the tax implications for non-resident landlords

Our goal is to make property letting as straightforward and profitable as possible for you. We understand that every landlord’s situation is unique, and we tailor our services to meet your specific needs.

DOWNLOAD OUR GUIDE TO RESIDENTIAL PROPERTY LETTING TODAY

Contact us today to find out how McGills can help you make the most of your residential property letting venture.

Gordon Pearce

"All my dealings with McGills have been high quality and professional."

Gordon Pearce

McGills Chartered Accountants
2022-11-03T13:13:22+00:00

Gordon Pearce

"All my dealings with McGills have been high quality and professional."

Kirsty Wills-Mace

"Thank you ever so much for your hard work and commitment to support our circumstances. We have been very happy with the service you and your team have provided."

Kirsty Wills-Mace

McGills Chartered Accountants
2022-11-03T13:12:57+00:00

Kirsty Wills-Mace

"Thank you ever so much for your hard work and commitment to support our circumstances. We have been very happy with the service you and your team have provided."

Paul Service

"They are always there when we need them, they never say no when I give them a quick call to check something and they answer questions by email quickly and efficiently."

Paul Service

McGills Chartered Accountants
2022-11-03T13:13:49+00:00

Paul Service

"They are always there when we need them, they never say no when I give them a quick call to check something and they answer questions by email quickly and efficiently."

Contact our team

Your tax planning guide for 2024/25

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Cirencester office
Oakley House, Tetbury Road, Cirencester, Gloucestershire, GL7 1US
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14a The High Street, Malmesbury, SN16 9AU
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