Streamline Your Ecommerce Finances with Professional Bookkeeping Services
Hire Remote Bookkeeper, Accountant , Tax return Preparer or Admin Person
Monthly Bookkeeping, Payroll, Financial Statements & Tax returns for Renting Sector Leasing Services Industry
Quality Driven Approach
QuickBooks And Xero Certified Experts
50% Reduction In Costs
Part Time / Full Time Resources For
- CPA Firms
- Bookkeeping Firms
- Business Owners & Startup Companies
Hire Remote Team
Bookkeeping software expertise
Our Services
Setting Up Xero/Quickbooks
Fill out our checklist to complete the Setup of your Cloud Software in a day. We provide step by step guidance.
Day To Day Bookkeeping
We will ensure that your books are upto date on the daily/weekly basis so you can stay on top of the Financial position.
Monthly Management Reports
We provide customized reports based upon client requirement. (Sales Perfomance, KPI’s, Overheads reporting, etc)
VAT Returns
We deal with VAT very closely for our clients to ensure that VAT claim is correctly calculated and Submitted Timely.
CIS Returns
Construction Companies enjoy error free and timely submission of CIS returns to HMRC through our services.
Payable Accounting
We track your accounts on a very regular note and also help your business run smoother.
Payroll Setup And Processing
Our procedure will take complete care of your Employee Setup, RTI Filings, Pensions , PAYG Liabilities, P45, P60.
Year End Finalization
We shall provide you complete Financials which can easily be used in preparation and completing Corporate Tax Return.
We provide end to end bookkeeping solutions for CPA’s and bookkeepers in the UK.
Why Are We The 1st Choice Of U.K. Businesses Accounting &
Tax Return Preparation
Reduce 50% in Current Costs
You will see a Cost reduction of at least 40-50% as compared to local Bookkeeper or Accountant.
Self Hosted PMS
Our standardized processes and decent Project Management system helps to communicate with you clearly and efficiently.
Faster Turnaround
We generally reply to every emails same day or within maximum 24 hours.
Starting from
£8
Per Hour Bookkeeping service
Detailed & Regular Work Updates
We send emails that carry all the necessary information you need to carry out business operations.
Monthly Meetings with CPA
We conduct monthly meetings with CPA’s for effective communication and understanding client needs.
Meeting Deadlines
We finish all our work prior to deadlines to prevent any kind of chaos during finalization. .
Detailed Checklists
We prepare a well-defined checklist of all the requirements for you so that you don’t have any confusion.
High Quality of Work
Our Standardized Procedures and Checklists will ensure error free work. .
Why Are We The 1st Choice Of U.K. Businesses Accounting &
Tax Return Preparation
Reduce 50% in Current Costs
You will see a Cost reduction of at least 40-50% as compared to local Bookkeeper or Accountant
Self Hosted PMS
Our standardized processes and decent Project Management system helps to communicate with you clearly and efficiently.
Faster Turnaround
We generally reply to every emails same day or within maximum 24 hours.
Starting from
£8
Per Hour Bookkeeping service
Detailed Emails
We send emails that carry all the necessary information you need to carry out business operations.
Monthly Meetings with CPA
We conduct monthly meetings with CPA’s for effective communication and understanding client needs.
Meeting Deadlines
We finish all our work prior to deadlines to prevent any kind of chaos during finalization.
Detailed Checklists
We prepare a well-defined checklist of all the requirements for you so that you don’t have any confusion.
High Quality of Work
Our Standardized Procedures and Checklists will ensure error free work.
.
Cloud AddOns Expertise
Receipt Bank
Receipt Bank converts those annoying bits of paper – receipts and invoices – into Xero data!
Hubdoc
With Hubdoc, you can automatically import all your financial documents & export them into data you can use.
Spotlight Reporting
Attractive performance reports quickly and efficiently. Ideal for organizations that need deeper insight and analysis.
Gusto
Gusto offers fully integrated online payroll services that includes HR, benefits, and everything else you need for your business.
AutoEntry
AutoEntry captures, analyses and posts invoices, receipts and statements into your accounting solution.
Shopify
Connect Shopify and Xero to effectively manage your online sales, inventory and accounting requirements.
Accounting and Bookkeeping for Rental Income in the UK
Are you a landlord in the UK, earning rental income from your property? If so, it’s important to understand the tax implications and how accounting and bookkeeping can help you stay on top of your finances.
Managing rental income can be a complex task, but with the right knowledge and support, you can ensure that your financial records are accurate and compliant with HMRC regulations. Let’s discover the importance of accounting and bookkeeping for rental income in the UK and understand its tax implications.
What is rental income?
Rental income refers to the money received by individuals or businesses from renting out their property to tenants. This can include houses, apartments, commercial spaces, or even vacation rentals. In the UK, rental income is subject to taxation and must be reported to HM Revenue and Customs (HMRC).
When someone receives rental income in the UK, they are required to declare it on their self-assessment tax return. The amount of tax owed will depend on various factors including the individual’s overall income and any allowable expenses related to the rental property.
Landlords or property owners need to keep accurate records of their rental income and expenses throughout the year. This includes documenting rent payments received as well as keeping track of any costs associated with maintaining or managing the property.
By maintaining proper accounting and bookkeeping practices for rental income in the UK, landlords can ensure that they are accurately reporting their earnings and deductions. This not only helps them stay compliant with tax regulations but also allows them to have a clear understanding of their financial position.
Proper accounting and bookkeeping for rental income can help landlords identify areas where they can potentially save money through deductible expenses such as repairs, maintenance costs, insurance premiums, or mortgage interest payments.
In addition to fulfilling legal obligations regarding taxes, having organized financial records also makes it easier for landlords when it comes time to sell a property or apply for financing in the future. Accounting and bookkeeping play a crucial role in managing rental income in the UK.
By staying organized and keeping accurate records of all transactions related to your rental properties, you can ensure compliance with tax regulations while also maximizing your profitability as a landlord or property owner.
What are the tax implications of rental income in the UK?
When it comes to rental income in the UK, it’s important to understand the tax implications that come along with it. Rental income is considered taxable and must be reported to HM Revenue and Customs (HMRC). This means you’ll need to include your rental income on your annual self-assessment tax return.
One key aspect to consider is that you may be eligible for certain deductions against your rental income, such as mortgage interest payments, repairs and maintenance costs, and letting agent fees. These deductions can help reduce your overall taxable rental income.
In addition, if you earn over a certain threshold from your rental properties, you may also need to register for VAT (Value Added Tax). This can add an extra layer of complexity when it comes to managing your accounts. It’s crucial to keep meticulous records of all expenses related to your rental properties.
It may include invoices, receipts, and any other related documentation. By doing so, you’ll have accurate information readily available when it’s time to prepare your tax return.
Seeking professional assistance from an accounting firm like Meru Accounting can ensure that you stay compliant with all taxation laws while maximizing deductions available for property investors. Their expertise in bookkeeping services specifically tailored for rental income in the UK can save you time and money in the long run.
Remember, understanding the tax implications of rental income is essential for landlords or property owners operating within the UK market. Stay informed about current regulations and enlist expert help when needed – it will make a significant difference in managing both financial obligations and potential opportunities effectively.
Significance of Accounting and Bookkeeping for Rental Income in the UK
When it comes to managing rental income in the UK, proper accounting and bookkeeping are essential. Why? Because keeping track of your rental income and expenses accurately is crucial for several reasons:
- A clear picture of your rental business’s profitability: Maintaining organized financial records allows you to have a clear picture of your rental business's profitability. By tracking your income and expenses diligently, you can identify areas where you may be overspending or missing out on potential tax deductions.
- Compliance: Accurate accounting ensures that you comply with HM Revenue & Customs (HMRC) regulations. The UK tax system requires landlords to report their rental income correctly and pay any applicable taxes promptly. If they fail to do so, they may face penalties or even legal consequences.
- Annual Accounts Preparation: Having detailed financial records makes it easier to prepare annual accounts, file tax returns, and provide evidence if audited by HMRC. It saves you time and stress when dealing with complex tax matters related to your rental income.
- Financial Planning: Effective accounting enables better financial planning for the future. By analyzing your cash flow patterns over time, you can make informed decisions about expanding your property portfolio or improving existing properties based on solid data.
Ultimately, we can say that accounting and bookkeeping play a vital role in managing rental income effectively in the UK. They ensure compliance with regulations while providing valuable insights into the financial health of your property business.
Don’t overlook these important aspects and consider seeking professional assistance from companies like Meru Accounting, which specialize in offering tailored bookkeeping services specifically designed for landlords operating within the UK market.
Meru Accounting's Bookkeeping Services for Rental Income in the UK
Meru Accounting understands the importance of accurate and efficient bookkeeping services for rental income in the UK. With our expertise and knowledge of UK tax regulations, we provide tailored solutions to landlords and property owners. Our dedicated team of professionals is well-versed in handling all aspects of accounting for rental income.
From tracking rental payments to maintaining records of expenses, Meru Accounting ensures that every financial transaction is recorded accurately. We also assist in preparing annual accounts and submitting tax returns on behalf of our clients.
By keeping up with the ever-changing tax laws, we help landlords stay compliant while minimizing their tax liabilities. Meru Accounting takes away the burden of managing finances for rental properties, allowing landlords to focus on growing their real estate portfolio or attending to other important matters.
Our streamlined processes not only save time but also ensure that no transactions are missed or overlooked. Moreover, Meru Accounting utilizes advanced software systems that automate various tasks, making bookkeeping for rental income more efficient than ever before. This allows us to deliver timely reports and insights into a landlord’s financial performance.
In addition to our expertise in bookkeeping, Meru Accounting provides valuable advice on optimizing profitability and maximizing deductions related to rental properties. We work closely with clients to identify potential areas for cost savings while ensuring compliance with relevant regulations.
By choosing Meru Accounting as your partner in managing your rental income finances, you can have peace of mind knowing that your accounts are handled by professionals who understand the unique challenges faced by landlords in the UK market.
Conclusion
Accounting and bookkeeping play a vital role in managing rental income in the UK. Understanding the tax implications and ensuring accurate record-keeping is crucial for landlords and property owners. By keeping track of expenses, and income, and maintaining proper documentation, individuals can effectively manage their rental properties while staying compliant with HMRC regulations.
For those seeking professional assistance with their accounting and bookkeeping needs for rental income in the UK, Meru Accounting offers specialized services tailored to meet specific requirements. With our expertise in property management accounting, we can help landlords navigate through complex tax rules and optimize financial performance.
Remember, having organized financial records not only simplifies your tax obligations but also provides valuable insights into the profitability of your rental business. So, never overlook the importance of accounting and bookkeeping when it comes to managing rental income in the UK.
If you’re ready to take control of your finances and ensure compliance with all legal obligations related to your rental properties in the UK, reach out to Meru Accounting today. Our team of professionals is dedicated to helping clients achieve financial success by providing accurate bookkeeping services that cater specifically to rental income.
Start maximizing your profits and minimizing stress by partnering with Meru Accounting – Your trusted Partner for managing accounting and bookkeeping for rental income in the UK!
CONTACT US FOR ANY QUESTIONS
Hiring Virtual Accountant With Meru Accounting
Meru Accounting provides world-class services that cater to all the needs of cloud accounting and bookkeeping of your business.
We work on the best accounting software like Xero and Quickbooks, as well as add-ons that will make sure all your work is up-to-date.
Help you with switching from your traditional software to Xero and Quickbooks.
We also manage VAT, CIS, CT 600 Tax return, Companies house Tax return, Confirmation Statement, Payroll RTI return submissions which gives your onstop solution for all.
When you choose to outsource your accounting work with us, it benefits you in the following ways:
- 1. Cost-saving
- 2. Access to skilled and experienced professionals
- 3. Better management of books of accounts
- 4. Decreased chances of errors
- 5. Improve business efficiency
- 6. De-burdens in-office employee’s dependency
- 7. Better turnaround time
We work on virtual technologies like Team Viewer, Virtual Private Network (VPN) to share and access data from your system.
You have to share your accounting software login details.
Through that, we complete all of your work and update it on the cloud, so you can have access to your data from anywhere and at any time.
Software is not a barrier for us. Due to our strong and professional accounting knowledge, we can prepare your books in almost any of the accounting software.
Our experts are always all ears to listen to your queries regarding bookkeeping and accounting or our services. You can contact us anytime by visiting: Contact Us page.
We provide our bookkeeping services at the rate of US $10 per hour. So, you only need to pay for the amount of time actual work is done.
We take certain preventive measures to secure your data, like:
- Cyberoam Firewall to prevent any kind of foreign threat.
- Dual-step authentication
- Implement anti-virus
- Limit user access so that login details are with a few people.
Meru Accounting work on some of the best accounting software’s like:
- Xero
- Quickbooks
- Netsuite
- Saasu
- Wave
- Odoo
Along with that, we also work with many add-ons like Workflow Max, Receipt Bank, Slack, TradeGecko etc., to extend your software’s capacity and improved work experience.
To book for trial, call us on our numbers or Please fill out the form here.
Our Work Information
We have combined team of Professionals. Seniors are generally Certified Chartered Accountants. Junior Bookkeepers are having Qualifications like Bachelors of Commerce, Masters of Commerce, Masters in Business Administration in the subject of Accounts and Finance, Intermediate level Qualification of Chartered Accountancy, etc.
For information visit our work methodology page.
We prepare a checklist of information required for bookkeeping and send you at timely intervals so as to ensure that we can do bookkeeping faster.
We can provide to you once we move ahead in our interview.
We serve clients on MYOB and have expertise working in Essentials, Account Rights Plus, etc.
Yes, We are presently processing Payroll for Number of clients in US , UK and Australia and take care of complete payroll activities.
Goods and Service tax (GST) is levied on sales of all the goods and services in Australia. GST is generally chargeable at 10% of value of sales.
Business Activity Statement is a predefined form to be submitted to the Australian Tax office by all the business persons in order to report on their all the tax obligations during the period covered.
BAS is generally required to be filed quarterly by various businesses.
Individual Business Owners
Yes, Owner of the business can prepare sign and lodge the tax return on his own. Its not mandatory that the Tax return needs to be signed by an EA or CPA.
No , its not mandatory that it should be prepared by only CPA or EA. It can be prepared by anyone who has PTIN.
We have Enrolled Agent who has the Authority to sign the documents for our clients after completing the through professional check.
Meru Accounting has its operational centre in India and hence the prices are quite less as compared to US based CPA’s and Enrolled Agents.
Meru Accounting has a team of Tax experts. Each Tax expert prepares around 300-400 Tax returns every year for various CPA’s in United States and Individual Businesses like yours. Due to this vast Experience and Robust Quality Check processes in place we can ensure you about correct Tax planning for your firm.
Our Office Address
UK Office
3rd Floor 207 Regent Street, London, W1B 3HH.
Global Production Team (India)
902, Shivalik Tower, Nr. Panchvati Cross Roads, Ahmedabad, Gujarat 380009, India
Our Office Address
UK Office
3rd Floor 207 Regent Street, London, W1B 3HH.
Global Production Team (India)
2nd, 3rd ,4th and 5th floor, Shanti Annexe, above Morima, opp. B.d.patel House, Sardar Patel Colony, Sundar Nagar, Naranpura, Ahmedabad, Gujarat 380006
