Martax Accountants is a modern accountancy practice providing expert small business accountants in Kingston. We provide accounting and tax solutions to our small business clients. We are using leading accounting and tax software which helps us to provide our services not only to our local clients but also to the rest of the UK.
‘We are large enough to meet your needs, and small enough to know your name’As entrepreneurs and small business owners ourselves, we know what challenges come with running your own business. You don’t have time to worry about bookkeeping and accounting every day. You are focused on what keeps your business alive and help it thrive – making money. That’s where we come in.
‘You take care of business while we balance the books’Whether you require straightforward bookkeeping, or want more in-depth monthly analysis, we can provide both. If you are considering setting up a small business, our small business accountants in Kingston team can assist with this process, from registering you as self-employed, your company at companies house, payroll, VAT, business plans and tax. We are committed to be more than just accountants; we are business partners, someone you can rely on to support your business.
What is income from property?
If a person carries on a business for generating income from land in the UK, this will be called income from UK property. Income from a UK property includes rents from properties such as houses and flats or part of a flat or house, such as a room or a parking space. Property income can also come from other activities related to land such as shooting or fishing rights.
Income from property does not include income from a trade such as farming, running a hotel or carrying on an unrelated business. Profits relating to a trade are taxable as self-employment income.
Do I have to pay tax on income from property?
Yes, you are liable to pay tax on your property income if the taxable profits are more than your personal allowances or other specific reliefs.
Rates of Tax
The rates of tax you pay on your rental profit depends on your total income for the tax year, from all sources of your income e.g. employment, self-employment, saving income, dividends etc.
How we can help
Keeping your eye on the ball while performing a deep dive on the start-up mentality to derive convergence on cross-platform integration.
