Tax Advisor/Accountant/Financial Advisor

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    Tax Advisor/Accountant/Financial Advisor

    We have just sold a buy to let property and are purchasing another locally. I think it will pay for itself for us to use an advisor or accountant. Which would be preferable and how on earth do I find a really good one in the South East London area?

    #2
    Accountants will usually meet with you to discuss what they can do for you.
    I look for a medium sized local firm who respond to a web site enquiry.
    When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
    Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

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      #3
      So an accountant rather than a tax advisor?

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        #4
        If you want someone to make sure you make all the right deductions and don't pay too much tax, I'd think accountant.

        If you want to plan your financial future overall, pensions, property and/or other investments, financial advisor.

        I've never been rich enough to need a specialist tax advisor.
        When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
        Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

        Comment


          #5
          Have you submitted any tax return for the BTL just sold ?

          If you main income comes from your job and tax is deducted by your employer, then you want to have tax return completed only for one BTL rental profit ? If that is the case, you could look for online service from accountant firm and not be limited to SE London.

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            #6
            No have only just sold the BTL. It'll be for the rental profit and to minimise any capital gains tax (only increased value £30k in 12 years) which can be split between two of us.

            Is an online service much cheaper and is it difficult to communicate this way?

            I didn't realise a tax advisor was more suited to the wealthy!

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              #7
              I'd find a local accountant (someone who's been in business for a while and typically operate out of a high street office - above some shops is normal).

              This kind of stuff is their bread and butter, they'll charge a few hundred quid for the tax return and you'll know you're paying the right amount of tax.

              Anyone worth their salt will meet with you for 10-15 minutes to understand what you're looking for and to be able to give you a quote.
              Find someone you feel comfortable with.

              An online service should be cheaper, but - anecdotally - are more a form filling exercise and are unlikely to pro-actively suggest things you haven't thought of.
              When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
              Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

              Comment


                #8
                If you only need help with the annual tax return and no complex business advice, then an online firm for completing annual tax return should be adequate.

                I suggest you study the websites of some accounting firms which are advertising on LZone including TWD Acoountants, LandlordAccountant and Vanilla Online Accountancy. You should contact the firms and ask how they require the rental information to be supplied - e.g 12 x monthly statements from letting agent ?

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