Rental Property Returns

By: Intouch Accountants Ltd  11-Jan-2013
Keywords: Accountants, Financial Planning, Accounting Services

Whether you are just starting out on a new venture in the rental property world or if you already have rental properties that requires affordable accounting, we offer a comprehensive, unbeatable Rental Accounting Package.

Generally, any income that you receive from renting out property will be liable for income tax, so you must include it in your tax return. This income could be from renting out land or buildings, or it could be income you earn by having private boarders or flatmates living with you. 

There have been significant changes to the law surrounding your Loss Attributing Qualifying Company ('LAQC'). From 1 April 2011 losses will no longer be attributable to the shareholders of the LAQC and unless you have nominated otherwise, your LAQC will automatically become a Qualifying Company ('QC').

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