After 26 years of contracting, I took a permanent job earlier this year and am in the process of closing down the company. My wife and I own several rental properties personally, i.e. not via any company.
In the past the company accountant always did our personal tax returns, including the rental income. Once the company is closed down I'll be looking for a more cost-effective way to do our tax returns. One fly in the ointment is that landlord income is due to switch to digital submissions before too long (MTD), like VAT did.
Being a cheapskate I found a very helpful website which offered a free portal for VAT MTD submissions for the company. But I can't find anything similar for the landlord stuff and I'm sure that personal tax returns will be going that way before too long as well, so I think I'll need to bite the bullet and actually pay for some kind of software which will handle all personal tax calculations and submissions for us including the landlord MTD stuff.
I'd prefer not to pay stupid amounts since I can work most or all of it out myself, but on the other hand I'm willing to pay for the convenience of having a package that saves me that effort and does the necessary submissions to HMRC. Does anyone have any recommendations? And any crafty ways of getting it at a reduced or bundled cost?
TIA
In the past the company accountant always did our personal tax returns, including the rental income. Once the company is closed down I'll be looking for a more cost-effective way to do our tax returns. One fly in the ointment is that landlord income is due to switch to digital submissions before too long (MTD), like VAT did.
Being a cheapskate I found a very helpful website which offered a free portal for VAT MTD submissions for the company. But I can't find anything similar for the landlord stuff and I'm sure that personal tax returns will be going that way before too long as well, so I think I'll need to bite the bullet and actually pay for some kind of software which will handle all personal tax calculations and submissions for us including the landlord MTD stuff.
I'd prefer not to pay stupid amounts since I can work most or all of it out myself, but on the other hand I'm willing to pay for the convenience of having a package that saves me that effort and does the necessary submissions to HMRC. Does anyone have any recommendations? And any crafty ways of getting it at a reduced or bundled cost?
TIA
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