"Getting Started" Guides

It can be very daunting when you decide to start your own business.

You will be confident in your own knowledge and ability to make your business succeed, but many people wonder where to start regarding keeping records, who to contact, paying taxes, etc.

This information is designed to ease your worries by providing you with this essential knowledge.

The Guides

Click on the links below to view each subject on the right hand side.

Once you're under way, you can think about the type of help you may require from us. Please browse through our list of services on the tab above for more information and email us for a quote.

Rental Income

If you rent out one or more properties, you must declare the income and expenses on an annual tax return, even if the expenses exceed the income (making a loss), or if the profit is only small.

Receiving rental income is not classed as self-employment, as it is not a 'trade'. There are specific pages within a tax return for declaring property income.

If you do not already file a tax return, receiving income from property rental is a reason to do so. You should register with HMRC as soon as possible. See Registering with HM Revenue and Customs.

We would be happy to prepare your tax return for you. Please contact us for a quotation.