Accounts and tax for a buy-to-let company

A UK private limited company that lets property has four jobs each year: file its annual accounts with Companies House, pay its Corporation Tax, file its Company Tax Return (the CT600) with HMRC, and send Companies House a confirmation statement. Each has its own date, and they are not the same date.

The rules this software uses for those dates are on the deadlines page.

Upload the company's bank statements and review the category suggested for each payment. Rent goes to rental income. The costs of letting go to accounts made for a company that lets property: letting and management agent fees, repairs and maintenance, landlord insurance, ground rent and service charges, mortgage and loan interest, and others.

The books are double-entry, and they show the result for each property, so you can see what each flat or house earned.

From the reviewed books it works out the UK property business profit, management expenses, losses and deficits, and the tax at the rates in force on each day, with marginal relief. The result is set out as the boxes of the CT600 and checked against HMRC's published validation rules.

A qualified accountant has not reviewed the calculations. Treat the output as a working draft for you or your accountant to check.

It prepares micro-entity (FRS 105) accounts in iXBRL, the format Companies House and HMRC read. Whether the company qualifies as a micro-entity is for the directors to confirm, and the software lists any problems it finds, such as figures above the micro-entity limits.

This service does not file anything. An owner approves the filing pack, and you, or your accountant, file the accounts and the return on the official services, with a step-by-step guide to follow. The filing by hand page has the detail.

It is not an accountancy firm, and it does not replace an accountant.