Accountant worth it for single BTL through LTD Company?

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    Accountant worth it for single BTL through LTD Company?


    [I've seen this question asked before, but a) not recently and b) not pertaining specifically to a LTD Company]

    I've just started a Buy-To-Let LTD Company (SPV).

    Been to see the accountant, who has quoted me £600 to send the annual company tax return.

    My question is 2 fold;

    Firstly, do I really require an accountant to do my annual accounts for a single property?

    Secondly, if the answer to the previous company is 'yes', does £600 sound like a reasonable figure?

    If you are paying 40% tax rate on your job income , the company pays 20% corporation tax plus accountant costs must mean you are better off

    Property held in your own name, the rental income is reported on your own tax return to HMRC .

    Property held in company name, the company must submitted a balance sheet return to Companies House and company tax return to HMRC.

    I think you should atleast let an accountant do 1st and 2nd years returns keep the copy and perhaps do the 3rd year returns onwards if you understand balance sheet preparation..


      Of course. Which is why I started the company in the first place. My query is; wouldn't I be *even* better off if I did the accounting myself?

      I understand that the balance sheet and tax returns have to be submitted. Are these terribly complicated?

      I was thinking about doing just the same actually. See the first year go in, then copy the process in subsequent years.

      Does £600 sound about right for the submissions?


        You should get quotes from 3 qualified firms in your town and choose the best price and willing to explain. You can always find a cheaper firm but may be too far away and not help you to learn.

        You should look in your local newspaper for small ads offering bookkeeping services to small businesses and ask what they will charge you.


          One plus point of accountants is that they may throw in ancillary services e.g. a registered office address (may well be preferable to having your home address plastered all over the internet).


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