FHP Accounting Services Limited

Directions Website

FHP Accounting Services Limited We are an Accountancy practice specialising in Commercial and Residential Property Accounting. DM for enquiries.

The administration of running a property is sometimes a burden, we take care of everything so you can focus on what you do best. If you need help or advise with;

• Property capital gains
• Residential or commercial service charge accounts
• VAT
• Annual Accounts
• Payroll
• Tax returns

We can help! We also offer bespoke services for property owners and managers, as we know not every requirement is the same.

Don't let the Self Assessment deadline sneak up on you. 🗓️🏃‍♂️Whether you have rental income, dividends from your compan...
22/10/2026

Don't let the Self Assessment deadline sneak up on you. 🗓️🏃‍♂️

Whether you have rental income, dividends from your company, or complex investments, filing your personal tax return accurately and on time is vital.

Many people miss out on legitimate reliefs simply because they don't know they exist.

We don’t just "file" your return; we review your situation to ensure you are paying the correct amount of tax and not a penny more.

Contact us:
🌐 https://fhpaccounting.co.uk/personal-tax-returns/
📧 [email protected]
📍 10 Oxford Street, Nottingham, NG1 5BG

There is an old joke in accounting circles that HMRC designed the VAT system purely to see how many small business owner...
16/10/2026

There is an old joke in accounting circles that HMRC designed the VAT system purely to see how many small business owners they could simultaneously confuse on a Tuesday morning.

If you have been keeping an eye on the news lately, you will know there is plenty of talk about the VAT threshold.

With the current registration limit sitting firmly at £90K, any upcoming increase or adjustment is always a hot topic for growing companies trying to map out their future finances.

But crossing that line—or voluntarily choosing to step over it—is only half the battle.

Once you are officially in the VAT club, you have to decide exactly which rulebook you want to play by.

Choosing the right VAT scheme is a bit like choosing a pair of shoes; if you pick the wrong one, you are going to get some incredibly painful financial blisters.

Take the Standard VAT Scheme, for example. It is the default option where you calculate the exact VAT you have charged on your sales, subtract the exact VAT you paid on your business expenses, and pay the difference to HMRC every quarter.

It is brilliant if you have a lot of stock or material costs, but the paperwork can feel like a part-time job in itself.

Then you have the Flat Rate Scheme, which is a popular favourite for service-based businesses with very low expenses.

Instead of doing all that tedious maths on every single receipt, you just pay a fixed, lower percentage of your total turnover to HMRC. You cannot reclaim VAT on your daily purchases, but the admin is beautifully simple—meaning you actually get your Sunday afternoons back.

Another fantastic option to look at is the Cash Accounting Scheme.

Under the standard rules, you owe HMRC the VAT the moment you raise an invoice, even if your client takes three months to pay it.

With Cash Accounting, you only account for the VAT when the actual money hits your bank account.

It is an absolute lifesaver for your working capital if you happen to deal with slow-paying clients.

So, how on earth do you decide? It entirely comes down to a mix of three things: your business model, who your customers are, and your cash flow patterns.

If you sell mostly to the general public, adding VAT can make you uncompetitive, whereas if you are purely business-to-business with huge overheads, the Standard Scheme is usually your best bet.

The secret is to run the actual calculations based on your past twelve months of trading data before making the final leap, rather than just guessing and hoping for the best.

Which VAT scheme are you currently using, or are you approaching that £90K mark and trying to figure out your next move? Let me know in the comments!

🌐 https://lnkd.in/dDQbmCnd

Payroll is one of those tasks that feels routine — until something goes wrong. 👥⚠️When it does, the impact is immediate....
12/10/2026

Payroll is one of those tasks that feels routine — until something goes wrong. 👥⚠️

When it does, the impact is immediate.

Staff notice when pay is wrong before almost anything else, and correcting mistakes afterwards takes far longer than getting it right the first time. ✅

A properly managed payroll process can cover:

• Calculating gross and net pay accurately each period 💷
• Processing the correct tax and National Insurance deductions 🧾
• Enrolling eligible employees into a workplace pension scheme 🏦
• Submitting Real Time Information to HMRC on time, every time 📅
• Managing statutory payments, such as sick pay and maternity pay 📄
• Producing clear, accurate payslips for every member of staff 📑

As a team grows, payroll becomes more complex. 📈

New starters, leavers, pay rises, bonuses and changing pension contributions all need to be handled correctly, recorded properly and reported on time.

Having a reliable process in place means one less thing to worry about each month — and a team that has confidence their pay is always right. 💡

If you would like support understanding payroll responsibilities, speak to FHP Accounting. 📩

📧 [email protected]
🌐 https://lnkd.in/eZ6EWJhD

Why do so many property owners believe a brand new sofa for their own living room can be claimed as a tax expense on the...
09/10/2026

Why do so many property owners believe a brand new sofa for their own living room can be claimed as a tax expense on their rental portfolio?

If I received a pound for every time a property owner asked me whether a domestic garden refurbishment, a personal holiday, or a high-end coffee machine could be written off against rental income, I might be able to retire early.

With HMRC ramping up compliance checks and nudging landlords to ensure proper distinction between capital improvements and allowable expenses, getting these details right has never been more critical.

There is a huge difference between a genuine repair—like replacing a broken boiler—which reduces your taxable rental income right away, and a capital improvement—like adding an extension—which only reduces your Capital Gains Tax when you eventually sell the property. Claiming a full property renovation as a standard repair might sound tempting, but it is one of the quickest ways to trigger an HMRC audit.

In my daily work with property clients, my goal is always to make sure landlords keep every penny of tax relief they are legitimately entitled to, without giving the tax office any reason to ask awkward questions.

What is the most creative attempt at a business expense claim you have ever heard of?

Starting a business is one of the most exciting things you can do — and one of the most overwhelming. 🚀The early financi...
09/10/2026

Starting a business is one of the most exciting things you can do — and one of the most overwhelming. 🚀

The early financial decisions you make can follow you for years, so it is worth getting them right from the start. ✅

3 things worth doing properly from day 1:

1. Choose your business structure carefully 🏢
Sole trader, limited company and partnership structures each come with different tax implications, levels of liability and administrative responsibilities. The right choice depends on your circumstances.

2. Open a separate business bank account immediately 💳
Mixing personal and business finances creates confusion, makes bookkeeping harder and can cause real problems if HMRC ever asks questions.

3. Learn your tax deadlines before they arrive 📅
Corporation Tax, Self Assessment, VAT registration thresholds and PAYE all have specific timelines. Missing them can lead to penalties that are entirely avoidable.

The earlier you build good financial habits, the easier everything becomes as your business grows and the pressure increases. 📈

For start-up accounting guidance and early-stage business support, contact FHP Accounting. 📩

📧 [email protected]
🌐 https://lnkd.in/eykigJgw

A lot of landlords do not realise how many legitimate expenses they can offset against their rental income, which means ...
05/10/2026

A lot of landlords do not realise how many legitimate expenses they can offset against their rental income, which means they may end up overpaying tax as a result.

Getting your records right throughout the year is not just about staying compliant.

It is also about making sure you are not paying more than you actually owe. ✅

Here are 5 things every landlord should understand about their accounts:

1. Allowable expenses such as letting agent fees, maintenance costs and insurance can reduce your taxable income. 🧾
2. Mortgage interest relief rules changed a few years ago and now work differently for individual landlords compared with limited companies. 📘
3. If you own multiple properties, keeping separate records for each one can make your tax return much easier and more accurate. 📂
4. Rental income must be reported to HMRC, even if it does not exceed your personal allowance. 📑
5. Capital gains tax planning matters when selling, and the timing of a sale can have a real impact on what you owe. 📈

Knowing these 5 things puts you in a much stronger position when it comes to managing your portfolio and your tax bill. 💡

For guidance on landlord accounting and property tax matters, get in touch with FHP Accounting. 📩
📧 [email protected]
🌐 https://fhpaccounting.co.uk/landlord-accountant/

Is the traditional individual UK landlord model officially dead?With the Renters’ Rights Bill moving forward alongside o...
02/10/2026

Is the traditional individual UK landlord model officially dead?

With the Renters’ Rights Bill moving forward alongside ongoing mortgage interest tax relief restrictions, many landlords are questioning whether holding residential property in their personal names still makes financial sense.

Running a property-focused accountancy practice, I hear this debate every week. On one side, many argue that successive legislative and tax shifts are systematically squeezing out individual investors, making it nearly impossible for casual landlords to turn a reasonable profit without operating through a limited company. On the other side, experienced investors contend that property remains one of the strongest long-term wealth builders in the UK if you adjust your strategy to the current environment.

The reality is that property investment hasn't become impossible—it has just become a formal business. Holding assets individually versus inside a Special Purpose Vehicle (SPV) limited company carries huge differences in tax exposure, mortgage flexibility, and profit extraction. However, transferring existing properties into a company isn't a silver bullet either, as it can trigger Capital Gains Tax and Stamp Duty.

Are tax and regulatory changes forcing small landlords out of the market, or are they simply raising the standard for how property businesses should be run?

02/10/2026

MTD for Income Tax is changing how you report to HMRC — and getting ready early can save a lot of stress later. 😌

A simple breakdown:
1️⃣ You’ll move from annual reporting to quarterly updates 📆
2️⃣ You’ll need digital record keeping (spreadsheets alone won’t be enough) 💻
3️⃣ You’ll make a final declaration at year-end to confirm your full tax position 🧾
4️⃣ The benefit: better tracking, fewer surprises, more predictable tax planning 📊✅

If you’re unsure where to start, speak to FHP Accounting and we’ll talk you through what’s needed. 🙂

📞 0115 648 8686
🌐 fhpaccounting.co.uk

Most business owners only look at their bookkeeping when something goes wrong — and by then, it is usually too late to c...
28/09/2026

Most business owners only look at their bookkeeping when something goes wrong — and by then, it is usually too late to catch the issue cleanly. 📚⚠️

Keeping your books updated regularly gives you something far more valuable than just tidy records.

It gives you visibility. 👀

When you can see your income, outgoings, and bank reconciliations clearly at any point in the month, you are in a much stronger position to make decisions, whether that is:

• Taking on a new contract 🤝
• Managing a cash flow gap 💷
• Knowing where your business actually stands financially 📊

Here are a few things that regular bookkeeping helps you stay on top of:

• Outstanding invoices before they become overdue 🧾
• Supplier payments and whether they are being processed correctly ✅
• Monthly bank reconciliations to catch errors early 🏦
• A real-time view of your cash position 📈
• VAT records that are accurate and ready when needed 📁

The businesses that tend to struggle most at year-end are often the ones who left their records until the last minute. 📅

Building a consistent bookkeeping routine, even a simple one, changes how in control you feel throughout the year. 💡

If you would like to understand how Xero bookkeeping can work for your business, speak to the team at FHP Accounting. 📩

📧 [email protected]
🌐 https://fhpaccounting.co.uk/xero-bookkeeping/

How many shoeboxes of crumpled paper receipts does it take to cause an accountant to have a mild existential crisis?If y...
25/09/2026

How many shoeboxes of crumpled paper receipts does it take to cause an accountant to have a mild existential crisis?

If you ask anyone in the profession right now, the answer is usually just one—especially now that HMRC is rolling out Making Tax Digital for Income Tax, requiring quarterly submissions rather than one annual January scramble.

As someone who works with landlords and property business owners every day, I have seen receipts handed over in carrier bags, glove boxes, and once, literally tucked inside a takeaway box. While we love a good puzzle, HMRC's digital requirements mean the annual January panic is officially being upgraded to a four-times-a-year event.

The good news? Moving from paper scraps to digital bookkeeping isn't just about pleasing the tax office. It means you actually know how much money your properties are making in July, rather than finding out eighteen months later whilst digging through a pile of coffee-stained fuel dockets.

If your accounting system currently relies on memory and a drawer full of paper scraps, now is the time to embrace digital records before the next deadline catches up with you.

What is the most unusual place you have ever stored a business receipt?

Address

10 Oxford Street
Nottingham
NG15BG

Opening Hours

Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 5pm

Website

Alerts

Be the first to know and let us send you an email when FHP Accounting Services Limited posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Shortcuts

Share

Category