Digital tax

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    Digital tax

    Any recommendations for digital programmes to do my books which will be compatible with HMRC ?

    #2
    There are many software available full list is on the Gov.Uk website, alternatively if you have an accountant they will have it as part of their service.

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      #3
      Taxcalc - have used it for years

      Comment


        #4
        If you are self-employed and require mortgage loans to finance property purchases, its better to use an accountant.

        Comment


          #5
          I have an accountant to do tax return but need to do my income and expenditure

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            #6
            This website has reviewed software suitable for landlords but you should ask your accountant for advice.

            https://www.propertyroad.co.uk/best-...rds-in-the-uk/

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            • Director loan to the company tax efficiency?
              by Bonehead33
              Hi
              I'm about to buy a flat in my first ltd company's name. I don't yet have an accountant but I'm actively working on it
              I have the private funds to lend the 90k to buy the flat outright to my company interest free and then the rental income will pay down the loan back to me as a director...
              28-09-2021, 04:48 AM
            • Reply to Damaged artwork expense
              by Gordon999
              If you paid £50 for replacement picture, just book the £50 cost as allowable operating expense against the rental income. Nobody can prove this £50 expense is an "improvement to your property"....
              27-09-2021, 20:20 PM
            • Damaged artwork expense
              by jtufty
              Hi all

              Silly minor question really. Last week the tenant accidentally knocked a framed picture off the wall and smashed it. It was only a cheap thing (I guess value was £10). I went out and bought a replacement picture for her. (I know I didnt have to, but shes a good tenant). I bought...
              24-09-2021, 10:35 AM
            • Reply to Damaged artwork expense
              by jpkeates
              If something is purchased wholly and exclusively for the business it's an allowable expense of one kind or another.
              It doesn't have to be a sensible thing to buy, it just has to have been bought for the business.

              If it were a gift it would not be allowable, but it's hard to see how...
              27-09-2021, 08:10 AM
            • Reply to Damaged artwork expense
              by ram

              As per above, as the place is "part-furnished", which will not incude pictures on walls.

              It's a gift to a stranger. ( They are not family, not close friends - etc. ) and not a claimable expence in any way..
              ...
              25-09-2021, 16:05 PM
            • Reply to Damaged artwork expense
              by nukecad
              I'd see this as an altruistic gift to your tenant and leave it at that.

              My previous LL (although he had his faults) used to buy the 3 of us in his small HMO a £20 case of beer each at Christmas, I doubt he tried to claim it off tax.
              25-09-2021, 15:46 PM
            • Reply to Damaged artwork expense
              by jtufty
              ram,

              Its let "part-furnished". (she didnt have a bed, so I put a bed in there, and the white goods, and the [now-broken] picture and a few other bits n bobs)
              25-09-2021, 15:13 PM
            • Reply to Damaged artwork expense
              by Section20z
              You don't need to write anything. Retain the receipt and just include the appropriate amount in youR expenses/capital totals...
              25-09-2021, 13:57 PM
            • Reply to Damaged artwork expense
              by ram

              We assume the place is let as furnished ?

              I don't think pictures are classed as furniture / but then again, a mirror screwed to the wall - if broken by the tenant, then the tenant pays.
              So pictures ? not sure.
              I would charge the tenant the cost of replacement.
              ...
              25-09-2021, 11:43 AM
            • Reply to Damaged artwork expense
              by jtufty
              Thanks guys. I dont know what came over me! A momentary wave of altruism. Most unlike me!

              I have the receipt. What should I log it as? Should I literally just write "capital expense" or should I be more specific such as "replacement of broken picture"?
              25-09-2021, 06:45 AM
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