WHY BOOKKEEPING IS IMPORTANT FOR PROPERTY OWNERS
By keeping your records up to date, you are always aware of the position of your property portfolio. Keeping accurate records allows you to see at a glance whether your portfolio is turning a healthy profit or is a liability. If a property is making a loss, you can take the necessary steps to reduce expenses or boost its income.
PITFALLS OF NOT KEEPING ACCURATE BOOKS
The figures used for your tax return are based on your books. If you get these figures wrong, your tax return will be wrong. Mistakes on a tax return can lead to you paying too much tax and result in hefty fines from the HMRC.
UTILISE OUR EXPERTISE
In our experience, most property owners do not have the time or the inclination to learn everything necessary to keep their books up to date and as such, many end up in trouble at year end. With more than 10 years of experience in this area, IB&Co Accountants can take the hassle out of bookkeeping for your properties, giving you peace of mind and the time to focus on the growth and management of your portfolio.
Contact us today so that we can take care of your bookkeeping for you.