THP’s Platinum MTD Service with FREE Landlord Software

Looking for free MTD compliant landlord software?

A comprehensive package that will help you manage your buy-to-let portfolio?

If the answer is ‘YES!’ then look no further.

As The Landlord’s Accountants, THP has teamed up with Hammock – the Making Tax Digital compliant software made by landlords for landlords.

  • Free MTD Landlord Management Software
  • Your own buy-to-let specialist accountant working for you
  • Access to landlords’ advanced tax planning services
  • Preparation of annual Self-Assessment tax returns for you and your spouse/partner
  • And much, much more…

Buy-to-let profits suffering? Our landlords tax resource should help!

If like me, you are a buy-to-let landlord with a personal portfolio, you’ll know how tough the market has been in recent years. Financial aspects such as Landlords tax have become very much in the news.

Since 2017, our letting profits have been dropping like stones!

This is largely the result of a steady reduction in the percentage of ‘finance’ costs you can claim against tax – including hugely valuable mortgage interest relief for higher rate taxpayers. Since April 2020 we are unable to claim these costs against our profits at all.

If falling profits isn’t bad enough, the cost of expanding and managing our portfolios has also risen.

Since 2016, those purchasing buy-to-let properties have been subject to a 3% hike in Stamp Duty Land Tax, adding tens of thousands of pounds to the cost of buying a buy to let property.

And then the government decided that almost all of the fees involved in setting up a new tenancy should be borne by us landlords and not by our tenants.

These pressures have caused many landlords to reassess their position. Many have come to us for advice, asking questions like:

  • Is there a more tax efficient way to hold my properties or buy new properties?
  • Are there ways I can reduce my tax bill?
  • Can I drop into a lower tax band if I increase my pension contributions?
  • Should I re-mortgage my rental properties or raise money on my own home?
  • Would it be more profitable if I switched to holiday lets?
  • As a Landlord – is there anything I can do now to prepare for Making Tax Digital?

There are no hard and fast answers to questions like these as no property portfolio is the same and different landlords have different priorities.

Breathe new life into your profit margins

In most cases though, it is perfectly possible for landlords to find ways to breathe new life into their profit margins.

So how do you go about it? To get started, take a look at our online guide – Making Buy-to-Let More Profitable.

Here you’ll find a few outline ideas and strategies for bringing down your tax bill, cutting your costs and increasing your income. You’ll learn about many of the pros and cons of holding properties in limited companies, discover smart ways to cut your tax bill and pick up tips for bumping up your letting returns.

We hope the guide helps give a much-needed boost to your buy-to-let portfolio. Once you are an existing personal tax client of THP and we have prepared a Self Assessment Tax Return on your behalf you will benefit from the comprehensive tax planning service we provide to Landlords.

Need further advice on any of the topics being discussed? Get in touch and see how we can help.

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    Avatar for Jon Pryse-Jones
    About Jon Pryse-Jones

    Since joining THP in 1978, Jon Pryse-Jones has been hands on with every area of the business. Now specialising in strategy, business planning, and marketing, Jon remains at the forefront of the growth and development at THP.

    An ideas man, Jon enjoys getting the most out of all situations, “I act as a catalyst for creative people and encourage them to think outside the box,” he says, “and I’m not afraid of being confrontational. It often leads to a better result for THP and its clients.”

    Jon’s appreciation for THP extends to his fellow team members and the board.  “They really know how to run a successful business,” he says.  He’s keen on IT and systems development as critical to success, and he continues to guide THP to be at the cutting edge and effective.

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