Tuesday, February 27th, 2024: 50,004 limited companies were incorporated for property investment in 2023 and in the same year 74% of rental properties were bought through limited companies, according to Hamptons. The number of buy-to-let limited companies has grown over five times in the past decade. The major growth in this structure for property investment should be met with equal growth and development in the products and services related to the structure. Our announcement today highlights how we plan to start providing property investors using limited companies services tailored to their specific needs.
Conor Kilcoyne, Head of Company BU at GetGround, said: “We are excited to introduce our Accounting and Tax service for landlords using limited companies. Currently, accounting and tax is entirely manual and costly for landlords, they have to collect all their receipts, keep on top of their ongoing accounts on a monthly basis, and manage their end-of-year tax returns - this is all a real pain for them. There was no software technology in the market that could assist landlords with their specific buy-to-let accounting needs. So, we created a digitalised Accounting and Tax service to solve this problem and make the process automated, less time-consuming and much more efficient.”
GetGround has been incorporating buy-to-let limited companies and servicing them in a digital manner on our online platform for over 5 years. We know exactly what issues landlords face, that’s why we now offer limited companies that were not incorporated by us to be onboarded onto our platform and benefit from our Accounting and Tax service.
Kilcoyne adds: “We’re specialists in residential buy-to-let property investment and our products reflect this. So our accounting and tax service is designed for property investors and ensures they have a seamless journey entirely on the GetGround platform. Once a limited company has been onboarded onto our platform, the GetGround Accounting and Tax service is inclusive of a business account for the limited company, secretarial services, post management, and management of the registered office address. The technology-based service means we can automate accounts and tax filings which saves time and allows investors to spend more time focusing on their property investing strategy and goals. Investors can also access Investment Pots which let them invest their company cash into a low-risk rated* money market fund to benefit from daily growth. Capital at risk.”
To benefit from low-cost accounting designed for buy-to-let limited companies, get started with GetGround Accounting and Tax for as little as £22 a month today.
*The fund is rated AAA (or equivalent) by S&P, Moody’s, and Fitch.
This is for your information only – you shouldn't view this as legal advice, tax advice, investment advice, or any advice at all. While we've tried to make sure this information is accurate and up to date, things can change, so it shouldn't be viewed as totally comprehensive. GetGround always recommends you seek out independent advice before making any investment decisions.
Investment Pots are provided by GetGround Limited, an appointed representative of RiskSave Technologies Ltd, which is authorised and regulated by the Financial Conduct Authority (FRN 775330). GetGround Limited can be found in the Financial Conduct Authority’s Financial Services Register under FRN 1005044. For more information see our Key Features and Risks document here. Your capital is at risk.
