We know that you don't mind taking the odd risk but need to calculate the rewards.
We work with successful landlords and property managers and are experts in integrating cloud accounting software and property management apps to manage your property income.
How we help property professionals
We've helped both residential and commercial landlords to streamline the way they work and deal with data.
Then we'll look at your invoicing and payments to make sure you get paid faster and all your finances stay up to date, so you stay in control.
Finally we'll advise on 3rd party apps, like the award winning Arthur Online, which are built specifically for landlords and property professionals and work seamlessly with your accounting package to simplify your life.
Beyond tax returns
Of course, you'll need to make sure that your income is recorded correctly and submitted to HMRC and we can take care of that. In addition we can help you maximise the profit from your property by:
- advising on allowable expenses
- introducing straightforward cloud apps that will keep your records up to date
- advising on Capital Gains Tax on sales
- supporting finance applications for Buy to Let or Commercial Propery purchases
- ensuring you receive special tax reliefs available with property
- analysis of the most efficient way to own your property (eg as an invidual, a partnership with a spouse or a limited company) to minimise property tax.
Case Study - Your Property Company
When Darren from Your Property Company started working with us he had a few issues with his accounting. We helped him to identify a wish list that would help him and his team to work more effectively:
- Knowing which properties had paid their rent without having to trawl back through bank feeds.
- A view of expenditure on a property by property basis.
- Getting on top of the bookkeeping.
Although we've worked with property professionals for a number of years, this was the first time working with the Arthur Online app and it soon became clear that (a) this was a really good app! and (b) we needed to understand it in more detail. So we sent Kieron off to London to receive in-depth training to really get under the hood of the app and pass the accreditation necessary to become an Arthur Online Certified Advisor.
We introduced GoCardless for direct debit payments, which has cut down on administration time and now 70% of payments are received through this route.
GoCardless makes it simple to flag up when a payment hasn't been made.
Accounts are now produced showing income and expenditure on a property by property basis.
Monthly and quarterly Futrli reports help keep everyone up to date with the numbers both reporting property by property and showing the overall position of the portfolio.
We introduced the new functionality of the ReceiptBank Fetch feature to automatically retrieve utility supplier invoices.
Bookkeeping is updated at least every week, with a Month End phone call to double check and update the numbers on a property by property basis.
What Our Customers Say
The changes you suggested to the way we collect our money using GoCardless have transformed our cash flow and cut out a whole load of admin as well, which is brilliant. I used to hate the job of trying to reconcile the utility invoices against properties, but now we're using Receipt Bank that's just not an issue for us anymore...it's been good that you've taken the time to get on board with Arthur Online as it's been a lifesaver for us and it's great to have an accountant who really understands how it works and how to get the most out of it - Darren Kirby, Your Property Company
"You guys have helped me out so much in setting up my Xero and showing me how to use it. In 5 years of working with TMT there isn't a question about Xero you haven't been able to answer!" Dan Murphy - M&D Properties
"We were with a more traditional accountant but it was hard to understand what he was telling us. Kieron is straight talking, doesn't waste any time and doesn't use any jargon. Now we know where we're going." Ian Clarke - UrPad Devon
Find out more
If you're considering moving your property accounting to a cloud platform, want to find out more about how apps like ReceiptBank and Arthur Online can save you time and money or are looking for bookkeeping for your property portfolio then get in touch to find out how we can work together.