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We are open: Monday to Friday from 9am to 7pm and Saturday from 10am to 5pm

4 Bank Chambers
143A High Street
Bromley, London, BR1 1JD

(020) 3740-5639

At Adiva Accountants all initial consultations are free of charge, so contact us today.
For quality, competitive, and friendly accountancy services, please contact

Adiva Accountants

on 020 8313 9117 or via email at contact@adivaaccountants.co.uk.

At Adiva Accountants we have the knowledge and the experience to provide you with the kind of accounting and tax services that you are looking for. At Adiva Accountants we look forward to discuss with you, without obligation, ways in which we may be able to help your personal or business needs.

Alternatively, you can complete the contact form here and we will respond as soon as possible.

Directors of Adiva Accountants have over 10 years’ experience of providing accountancy services. They have completed Bachelor and Masters degrees in Accountancy, Taxation and Business Management. Additionally, they have completed various accountancy qualifications such as ACCA, AAT, etc. So, they hold various accountancy degrees and qualifications up to chartered certified accountant.

They can advise you on many other things, such as how to get the best price when you come to sell your business. Or on how to satisfy the banks conditions when you need help with finance. Or on how to keep creditors, insurers and suppliers happy, etc. Their expertise covers income tax, capital gains tax, corporation tax, VAT, payroll and many more.

They can help with dealing with Inland Revenue investigations also.

You can park in Sainsbury’s car park for free for up to 2 hours provided you spend £10 in Sainsbury’s. The Sainsbury’s car park address is: Walters Yard, West Street, Bromley, BR1 1TP.
After parking your car, please walk past McDonald’s, HSBC, Barclays, Costa, Primark, Argos, Starbucks and come out on the High Street. Our office is above Natwest bank in the middle of Bromley High Street, opposite of Next store. The entrance to the office is between Natwest bank and Thomas Cook, please ring the bell for number 4.

Alternatively, there is a big car park (1,500 spaces) in the INTU Bromley Shopping Centre (formerly The Glades) just behind our office. Parking costs £1.10 per hour for every day of the week. The shopping centre car park address is: The Glades, High Street, Bromley, BR1 3EF.

If you drive to our office in Bromley, please enter this address in your Satnav 143 High Street, Bromley, BR1 1JD. From Orpington, you can take A232, then A21. From Beckenham, you can take A222. From Eltham, you can take A208, B226, A2212, then A21. From Lewisham and Catford, you can take A21. From Croydon, you can take A232, A233, then A21. From Kent, you can take A21. From North and East London, you can take the Blackwell tunnel southbound, A2, A2213, A20, South Circular Road, A2212, then A21. From West London, you can take South Circular Road to Catford, then A21.

We are situated in Bromley High Street, which is served by Bromley South and Bromley North train stations, they are about 5 minute’s walk away. There are direct trains from London Victoria, London Bridge and London Blackfriars to Bromley South station. Bromley South is connected by direct trains to major towns around London and in Kent such as St Albans, Orpington, Sevenoaks, Ashford, Gillingham, and Ramsgate.

The main bus routes serving Bromley High street are 61, 119, 138, 146, 208, 227, 246, 261, 269, 320,336, 352, 354, 358, and 367.

Call us: 020 8313 9117 contact@adivaaccountants.co.uk
We're currently closed.We're open again on Thursday (19th September 2019) from 9:00 am to 7:00 pm

You might have to pay tax if you receive income from renting a property. Most importantly you have to declare the property income to the HMRC, even if you are making a loss. We have a fixed fee property tax service designed for residential landlords. It includes the preparation of rental accounts and the tax return. It does not matter if you are a buy to let landlord, a property developer, or investor we will be able to help you.

Property tax, property income in Bromley, Kent, London and nationwide
Property tax, property income in Bromley, Kent, London and nationwide

Important

Property tax is quite complicated and we can advise you on many property tax areas such as:

  • Tax reduction strategies for rental income
  • What is a repair and tax deductible and what is an improvement and not
  • Trading income versus Capital Gain considerations and advice
  • Capital Gains rollover and holdover considerations
  • Stamp duty planning
  • Making the most of the Principal Private Residence election, letting relief, etc
  • Tax issues on the sale of part of your residence
  • Second homes
  • VAT considerations of property deals

Property tax summary

  • If the owner of the property is an individual, couple or a trust the rental profits are charged to income tax for the tax year to 5th April.
  • If the owner is a company, the profits are charged to corporation tax for the accounting period of the company. Allowable expenses are those who relate to only the immediate period. Usually they do not affect more than one year. The costs incurred must also be wholly and exclusively for the purposes of the letting. Interest payable on a loan to acquire or improve the property is an allowable expense.
  • Capital allowances are not available on plant and machinery used in dwellings. However, owners of furnished properties can claim a relief – Wear and Tear allowance. This is used instead of the actual costs of replacing furnishings in the tax year. From April 2016, this is going to be replaced by relief for actual replacement costs.

  • The expenses and income of different properties owned by one person are pooled together in any one tax year. This way we reach an overall profit or loss for the letting business. Any overall losses are normally carried forward to set against future rental income.
  • The cost of repairs can be set against the rental income. However, it is often not easy to distinguish between repairs and improvements. If a fixture is replaced with a similar fixture this will usually be an allowable expense as a repair. Where a new fixture is installed, or the replacement fixture represents an improvement, no tax deduction is allowed. The property tax relief for the improvements is given when the property is sold.
  • There are special rules which apply to properties which qualify for furnished holiday lettings.
  • Capital gains on the sale of buy to let properties are taxed at 18% or 28%.

Office meeting, Property tax, property income in Bromley, Kent, London and nationwide
Office meeting, Property tax, property income in Bromley, Kent, London and nationwide

We operate in Bromley, London, Kent and nationwide. Please contact us on 020 8313 9117, or email at contact@adivaaccountants.co.uk and we will be happy to help.

Landlord contract, Property tax, property income in Bromley, Kent, London and nationwide
Landlord contract, Property tax, property income in Bromley, Kent, London and nationwide