Your Dedicated Local Accountant London

London is where the off-payroll rules bite hardest, because the concentration of medium and large end clients means most engagements now carry a status determination made by somebody else. Contractors here routinely hold a mix of inside and outside IR35 work in the same tax year. The mechanics matter: deemed employment income already taxed at source must not be taxed again through the company, and the expenses position changes completely between the two. This is the single most common thing we correct on taking over a London contractor's affairs.

Early-stage companies bring SEIS and EIS. Both are extremely valuable to investors and both are unforgiving procedurally — advance assurance before the raise, compliance statements filed correctly afterwards, and a set of conditions on trade, age and gross assets that a company can breach without noticing. An investor who loses relief because a form was late will not invest again. We handle the process end to end and keep the company inside the conditions afterwards.

EMI options come up in almost every London startup we act for. Granted properly they are the most tax-efficient way to give a team real ownership. The valuation should be agreed with HMRC, the scheme documented, and the grant notified within the statutory window. Miss that window and the advantage is gone permanently, which is an expensive way to learn a deadline.

London property values turn capital gains tax from a modest calculation into a substantial one. A residential disposal must be reported and the tax paid within 60 days of completion — not at the next self assessment — and the penalties for missing it accrue quickly. Private residence relief, lettings relief where it still applies, and the treatment of periods of absence all need working through properly. We deal with these regularly and we would rather hear from you before exchange than after completion.

For landlords, the mortgage interest restriction combined with London yields means a geared portfolio can produce a tax bill larger than the actual cash profit. That is not a mistake in the calculation; it is how the restriction works. Understanding it before it happens is the difference between planning and panicking, and it is often the trigger for a serious look at company ownership for future purchases.

We act for a large number of private hire drivers in London, which is a genuinely distinct area of tax. Licensing sits with Transport for London and the compliance burden is heavier than elsewhere in the country. ULEZ and the congestion charge change the economics of which vehicle to drive, and the choice between claiming mileage and claiming actual running costs can go either way depending on the car and the annual distance. HMRC already receives income data directly from the operators, so the return needs to agree with it.

Fees are fixed and quoted before any work starts. For most of the compliance work a London business needs — accounts, corporation tax, payroll, VAT, self assessment — there is no reason to pay City rates, and we do not charge them.