Property Tax

But remember tax can often be your biggest cost!

Is no point successfully buying a property, under market value, or yielding a high amount and then paying a large amount of property tax.

So having a good accountant is key. How would I define a good accountant??

- Easily contactable by phone or email. For me this is key - as I find I have new ideas/questions pretty regularly and rather than having to make appointments to see my accountnant, can just send him a quick email and get question answered the same day.

- Understands what you need him for ie if you are a property investor, he understands the best ways to structure - whether you do buy to lets, buy to sells or a combination of the two. Even better if he is a property investor himself as should fully understand the accounting lawas relevant to you.

- Cost efficient So not necessarily the cheapest out there - but one that gives best service for the money.

Whoever you use, make sure you do stay on top of your paperwork and have a clear idea of what tax you will be liable for, and how you can legally reduce your tax liability.

Other good sources online are:

Taxbuddies

FREE tax health check - 1 in 3 people are due a tax refund, over £60 million secured to date. Self assessment only £85 (after £10 online discount), self employed, just £159. Check them out for the best value tax services in the UK, click on link below for more information.