Landlord Tax Returns & Property Income

Owning a rental property can provide valuable income, but it also comes with tax 

responsibilities that many landlords find confusing.

Whether you've purchased a buy-to-let property, inherited a house, moved and decided to 

rent out your former home, or built a growing property portfolio, it's important to understand 

what needs to be declared, what expenses can be claimed and how to remain compliant 

with HMRC requirements.

At Draig Accountancy, I help landlords make sense of the rules, understand their responsibilities 

and feel confident that everything is being handled correctly.

Based in Penygroes, Carmarthenshire, I support landlords throughout Wales and across the UK.

Property Tax Doesn't Have to Be Complicated

Many landlords contact me because they feel unsure about what HMRC expects from them.

They worry about:

• Whether rental income needs to be declared
• What expenses they are entitled to claim
• Whether they need to complete a Self Assessment tax return
• How much tax they may owe
• Changes in property tax rules
• HMRC letters they don't fully understand
• Whether they have made mistakes in previous years

If that sounds familiar, you're certainly not alone.

Property taxation can become surprisingly complicated, particularly when rental income is combined with employment income, self-employment income, pensions or company income.

My role is to simplify the process, explain things clearly and help you feel confident that everything is in order.

Whether You're a First-Time Landlord or an Experienced Property Owner

No two landlords are exactly the same.

I work with:

• First-time landlords
• Buy-to-let investors
• Accidental landlords
• Individuals renting out a former home
• Landlords with multiple properties
• Holiday let owners
• Individuals with property income alongside employment or self-employment

Whether you own one property or several, the support you receive will be tailored to your circumstances.

How I Can Help

Landlord Tax Returns

Preparing and submitting Self Assessment tax returns that include rental income.

Rental Income Reporting

Helping ensure property income is reported accurately and in accordance with HMRC requirements.

Allowable Expenses

Helping you understand which expenses may be claimed and how to maintain appropriate records.

First-Time Landlord Support

Guidance for individuals who have recently started renting out a property.

Property Tax Advice

Helping you understand your obligations and avoid unexpected surprises.

HMRC Support

Assistance with correspondence, queries and property-related tax matters.

Ongoing Support

Providing practical advice as your circumstances, property portfolio or tax obligations change.

What Expenses Can Landlords Claim?

One of the most common questions landlords ask is:

"Am I claiming everything I'm entitled to?"

Depending on your circumstances, allowable expenses may include:

• Letting agent fees
• Insurance
• Repairs and maintenance
• Accountancy fees
• Utilities paid by the landlord
• Certain finance and management costs

Understanding the difference between allowable expenses and capital expenditure can be confusing, and mistakes can be costly.

Professional advice can help ensure claims are made correctly and confidently.

Why Choose Draig Accountancy?

When it comes to property income, most landlords aren't looking for complicated tax jargon.

They're looking for clarity, confidence and someone they can trust.

When you work with Draig Accountancy:

✔ You'll deal directly with me, Fay Hancock MAAT

✔ You'll receive friendly, jargon-free advice

✔ You'll understand your tax responsibilities

✔ You'll have support tailored to your circumstances

✔ You'll gain confidence that everything has been completed correctly

✔ You'll have a trusted point of contact whenever questions arise

My aim is simple: to help landlords feel informed, organised and confident in their tax affairs.

Landlord Tax Accountant in Carmarthenshire

Based in Penygroes, I support landlords throughout Carmarthenshire, including Llanelli, Ammanford, Carmarthen, Cross Hands, Llandeilo and surrounding areas.

Through secure online systems, telephone consultations and remote support, I also work with landlords throughout Wales and across the UK.

Whether you're declaring rental income for the first time or managing a growing property portfolio, I can provide practical support tailored to your needs.

Frequently Asked Questions

Do I need to declare rental income?

In most cases, yes. Rental income normally needs to be reported to HMRC, although the exact requirements depend on your circumstances.

Do landlords need to complete a Self Assessment tax return?

Many landlords do. If you receive rental income, it is important to understand your reporting obligations and deadlines.

What records should I keep?

Landlords should retain records relating to rental income, expenses and property-related transactions.

Can you help if I've never declared rental income before?

Yes. If you're unsure about previous obligations or need help bringing your affairs up to date, I can provide practical guidance and support.

Looking for Help with Rental Income and Property Tax?

Whether you're a first-time landlord, an accidental landlord, a buy-to-let investor or simply looking for a new accountant, I'd be delighted to help.

Get in touch for a free, no-obligation conversation about your circumstances and how I can support you.

📍 Penygroes, Carmarthenshire

🌍 Supporting landlords across Wales and throughout the UK