Recommendations for an Accountant

[surreyLL]

Hi,

Could anyone recommend an accountant (preferably not too far from Kingston Upon Thames) who is specialised with Landlords and HMOs? I've been to a couple so far, but they didn't seem to have much experience with lettings.

Thanks,

SurreyLL.

[Tax Accountant]

Hi,

Could anyone recommend an accountant (preferably not too far from Kingston Upon Thames) who is specialised with Landlords and HMOs? I've been to a couple so far, but they didn't seem to have much experience with lettings.

Thanks,

SurreyLL.

Sorry, I am unable to recommend one as I am not from that area.

However, it is not always necessary to have an accountant in the same area.

Also, quite often people are looking for a ''good accountant'' but aren't always prepared to pay what I call ''professional fees''.

Ramnik

[SteveP]

Don't know any in Kingston, but I can suggest one in Croydon.
Palmer McCarthy (no relation)
Toronto House
49a South End
Croydon
CR9 1LT
Tel: 020 8681 3545
Fax: 020 8760 9915
Email: enq@palmermc.co.uk
Web: www.palmermc.co.uk

My wife (an accountant) used to work for them and I use them for my accounts. I'd certainly recommend them. Ask for Gerald and mention my name if youi want.

Another option, I can't give you a personal recommendation though, a bit nearer would be
Brooks & Co
Mid-Day Court
20-24 Brighton Road
Sutton
Surrey
SM2 5BN
Tel: 020 8642 8681

I don't use them (since I am happy with Palmer McCarthy) but it is the firm my wife works for now. I have no idea whether the firm is any good or not as I have never used them, but no harm in making enquiries.

[ivory]

Similarly to this poster, we have found it difficult to find an accountant who understands full the tax situation with let properties. The one we consulted did not, for example, make any reference to PPR. We got all that from this forum (thanks Ramnik).

Can anyone recommend one around Warwickshire/Coventry? Appreciate they do not have to be nearby, but it's sometimes easier.

Not averse to paying for good advice - invest to save etc.... What range does the hourly rate for this sort of thing fall into?

[Tax Accountant]

Similarly to this poster, we have found it difficult to find an accountant who understands full the tax situation with let properties. The one we consulted did not, for example, make any reference to PPR. We got all that from this forum (thanks Ramnik).

Can anyone recommend one around Warwickshire/Coventry? Appreciate they do not have to be nearby, but it's sometimes easier.

Not averse to paying for good advice - invest to save etc.... What range does the hourly rate for this sort of thing fall into?

Thank you for your compliments. It is appreciated.

I know that there are good accountants around but most BTL investors' idea of professional fees is far removed from reality. They are simply looking for good service but not willing to pay a professional fee. When they do find a good accountant, they don't appreciate the quality of service.

I could personally recommend a good one in East Midlands, not that distance should be an object, if you are really serious and not merely talking about it.
Annual fees would depend on time and quality of work but you should be prepared to pay approx £1,000 per year for a BTL portfolio of say 5 properties.

Ramnik

[ivory]

I could personally recommend a good one in East Midlands, not that distance should be an object, if you are really serious and not merely talking about it.
Annual fees would depend on time and quality of work but you should be prepared to pay approx £1,000 per year for a BTL portfolio of say 5 properties.

Ramnik

If someone has got any more than 1 BTL it seems to me they are running a business and it would be barmy if they were not willing to pay that sort of fee to get things right. Presumably it is a tax deductible expense against the revenue income too.

Our situation is not quite so straightforward, as I think we need to speak to a practice that can offer solicitor services too. It's not a BTL business, and we are not trying to make revenue income on the rent - just to cover costs. We do however want to minimise the CGT laibility. It is a family situation where we may decide (sooner or later) to transfer a share in our second property to our children (who live in it with friends, and pay us a fairly nominal rent). Obviously one needs to think carefully about CGT when doing that, as you have indicated already to us.

So it is probably an accounting and legal practice we are after, if possible.
Ivory

[Tax Accountant]

If someone has got any more than 1 BTL it seems to me they are running a business and it would be barmy if they were not willing to pay that sort of fee to get things right. Presumably it is a tax deductible expense against the revenue income too.

Our situation is not quite so straightforward, as I think we need to speak to a practice that can offer solicitor services too. It's not a BTL business, and we are not trying to make revenue income on the rent - just to cover costs. We do however want to minimise the CGT laibility. It is a family situation where we may decide (sooner or later) to transfer a share in our second property to our children (who live in it with friends, and pay us a fairly nominal rent). Obviously one needs to think carefully about CGT when doing that, as you have indicated already to us.

So it is probably an accounting and legal practice we are after, if possible.
Ivory

Hi Ivory,

By and large, there is no such thing as accounting and legal practices under one roof. What you will find is that Accountants you use may refer you to solicitors they are familiar with and vise versa.

Your family situation you describe is fairly standard; you do not need accountants and solicitors under the same roof to deal with this.

It is generally best to have separate accountants and separate solicitors who you feel comfortable with.

Ramnik

[ivory]

Hi Ivory,

It is generally best to have separate accountants and separate solicitors who you feel comfortable with.

Ramnik

Many thanks. Will look into this.
Ivory

[mart]

Hello all,

Does anyone know of a good property accountant in London?

Thanks,

mart

[SteveP]

By and large, there is no such thing as accounting and legal practices under one roof.

If I am not mistaken the Law Society do not allow solicitors to practice in mixed professional firms, although there was/is some talk of that changing. a while back we were looking into setting up a professional "one stop property shop" comprising Chartered Surveyors, Chartered Accountants and Solicitors but this rule prevented us from doing so.

[SteveP]

Does anyone know of a good property accountant in London?

See above. Croydon is in London.

[Tax Accountant]

Hi,

Do you guys think that location of yourself and your accountant is NB? Surely accountants outside of London charge a lesser rate? And how often would it be needed that you go and visit them?

I was under the impression that all the work can be done via postal service and over the phone, hence findin the best accountant anywhere in the UK is what we should be looking for.

Am i correct in saying this?

Regards,

I agree that distance should not be the deciding factor. However, an accountant within an hour ot two commuting distance is ideal in case face to face meetings are desired.

The most important criteria should be quality of service at reasonable cost. Expect to pay at least £100 per hour.

Ramnik

[Tax Accountant]

Hi Ramnik,

I have spoken to a few guys today and think I have made my mind up. Like you said the service is the most NB. With travelling, I suppose it is only occasionally that you need to meet up so it is not too much an issue.

Thanks for the advice.

My pleasure.

If you don't have a normal business, face to face meetings are not normally necessary.

Ramnik

[CatLover]

This site is very helpful because it has a list of the best accountants by area:

http://www.myprimebuyersguide.com/listings/personal/accountants/santa-clara/mountain-view.html

I can't vouch for any in your area, but the site has a background writeup about each to help pick a good accountant for what you need :)