Service Information

Information - Optimus Tax Services

Are you a UK or Non-UK Resident Landlord?

Optimus has designed a Landlord Service to handle the financial aspects of letting property, eliminating the need for property investors and lettings agents to handle the related tax and administrative issues.

Through its expertise, Optimus ensures rental investments are as tax efficient as possible whilst satisfying the needs of HM Revenue & Customs. The Landlord Service includes the preparation of annual accounts, completion of self assessment tax returns and advice on any tax payments due.

Letting property in the UK

As an investor in the UK property market you will be aware of the abundance of estate agencies and property managers who are able to let and manage your property. Once you have selected an agent, it is advisable to appoint a specialist to handle the financial aspects of your property investment, particularly one expert in the complexities of UK taxation. This is where the Optimus Landlord Service comes in.

By law, your lettings agent or property manager is obliged to deduct income tax at the basic rate from the rent it receives from your tenants, and pay it directly to HM Revenue & Customs. This means the total amount of tax paid is most often much more than necessary. Why? Because your agent cannot take into account all the tax-allowable expenses you pay yourself, such as mortgage interest payments or any personal allowances to which you may be entitled. Our service can, and also provides much more.

What does Optimus’s Landlord Service provide?

  • On appointment Optimus immediately applies to HM Revenue & Customs to receive your lettings income without tax deducted at source. This is a facility which we can keep in place even if you change agents.
  • We liaise with HM Revenue & Customs on your behalf answering all enquiries relating to your property investment.
  • We provide you with easy-to-understand annual rental accounts, which detail periodic and annual itemised income and expenditure, cash inflow and outflow. We are also happy to analyse your financial investment if required.
  • We calculate the amount of income tax you owe, having deducted allowable expenses and your personal allowances (where applicable).
  • We inform you of the deadlines for tax payments, if any need to be made.
  • We prepare and submit your annual self assessment income tax return and, if applicable, your company’s ATED return. These are legal requirements in the UK, and the latter needs to be submitted even if no tax is owed.
  • Your personal team member stays in regular contact with you and is available to answer any questions you have on relevant UK taxation matters (such as Capital Gains Tax, Value Added Tax, and residency status).
  • Optimus also applies on your behalf for any tax repayments in cases where tax has been over-deducted at source.
  • We also liaise with your agent/property manager to resolve any financial issues relating to your property, whether or not they affect your tax situation.

As an investor in the UK property market you will know there are an abundance of estate agencies and property managers to let and manage your rental property. Once you have selected your agent it is advisable also to appoint a specialist to handle the financial aspects of letting your property. This is where the Optimus Landlord Service comes in.

Our Landlord Service has been specifically designed to handle landlords’ tax affairs, ensuring their investment properties are as tax efficient as possible.

The Landlord Service

The Optimus Landlord Service is a personal, tailor - made service dedicated to dealing with all your property-related income tax matters. The service incorporates drawing up detailed rental accounts and the preparation of the Land and Property pages of your self assessment form.

Optimus’s Landlord Service undertakes the following on clients’ behalf:

  • Handling HM Revenue & Customs property related enquiries, obtaining and submitting any of the supporting documentation required.
  • Obtaining rental statements directly from your letting/management agents and preparing tax-adjusted income schedules.
  • Calculating and advising you of your taxable property income (or your property tax losses) taking into account the many tax allowable expenses available.
  • Preparing annual tax return property schedules.
  • Providing a financial management facility to help you better manage your property portfolio by:
    • Creating and providing you with annual rental accounts for each of your properties detailing periodic and annual itemized income and expenditure.
    • Cash inflow and outflow on your letting account, with details of balances with your agent.
    • Analysis of your agent’s float with details of any rent due.
    • Financial analysis of your investment if required.

What Our Clients Say

  • I would like to take this occasion to thank you for all the precious assistance you have granted me in all these years.

    Ms. R
    Ms. R
  • Renewed thanks to all your help these past years

    Mr P. Canada.
    Mr. P
  • I have been very impressed with Optimus' service in terms of your professionalism, courtesy and patience, so many thanks...

    Mr. T. Hong Kong.
    Mr. T
    Hong Kong
  • Thank you for all your help and advice over these years when we rented our home

    Mr & Mrs B
    Mr & Mrs B