First tax return? Account or do it myself

Landlord Discussion
1

I have one BTL in Ltd company. My first year tax return it due in end of year should I do it myself or use account? Thanks in advance

2

Hi Jordan1, As the BTL is in a Limited Company I would use an accountant for the CT600 and ask them to assist with your SA100. If it’s simple calculations it will be sensibly priced [hopefully]

3

Thank you Eileen I will go with a account :+1:t2:

4

I have used an accountant for 45 years . The fee is tax deductable. Its just easier . No worries.

5

As an accountant (and not looking for work!), I would definitely say use an accountant for a limited company. It’s not just about the tax return, you have to prepare accounts in a statutory format to file at Companies House, and you then have to file those accounts in ixbrl tagged format with a computation with the CT600 tax return.

Whether you need to do a personal return will depend on whether you have taken money out and if so, how. If you had only had dividends of less than £2,000 (and don’t have any from other investments) you may not owe any tax and would only need to do a tax return if HMRC have asked for one.

1 Like
6

Thanks could you send me your contact details so I could get a quote with you please

7

Hi Jordan,
Cath2 has let us know that you are looking for an account. Boffix can certainly help you with those statutory requirements.
You can give us a call on 01840 700 700 or you can book a Service Enquiry call using our calendar below and we will call you.