Hello, I am a new landlord.
I am trying to understand the logistics of (probably) engaging an accountant to arrange self-assessment etc.
But basically, I have receipted expenses for an empty property going back to 2019, which was being painted and old things replaced, and the rental itself which only started last month in June 2022.
The receipted expenses since 2019 are probably 20k, a quarter of which is probably council tax while we were slow to re-decorate the property and replace things etc.
In terms of instructions to the accountant, I think I need to record/register the losses since 2019, while the property was empty, as any income since June 2022 won’t be known until after April 2023.
I think what I am looking for is what I need to instruct/ask an accountant to do, and when I should actually do that? I have the scanned receipts I have for expenses and things such as empty buildings insurance, council tax and bills. I also have an itemised spreadsheet of all that which I have put together.
From what I have read I may not need to register for self assessment until 2024 but I do not wish to wait that long.
Many thanks for your assistance.