The Cost Hakim Fry International has considerable experience in acting for non-resident landlords plus our effective computer systems which are continually being updated means that we are able to process information, prepare the Tax Returns and Accounts, file tax computations and report to you efficiently and effectively, thereby enabling us to maintain our fees at a level which we believe gives value for money. The annual fee may be reviewed from time to time, as appropriate, and different terms could apply to owners of Offshore Companies and individuals owning more than one property. Our costs and fees will always be discussed and agreed in advance. The fee for the preparation of the Property Income Accounts is allowed by the UK Inland Revenue as a deduction in computing the net income , and therefore attracts tax relief. The fee for preparing Tax Returns is not an allowable deduction. We are able to make arrangements under instructions from you for our fees to be paid on your behalf by your managing agent from rental income received. If the tax authorities undertake an examination into your Tax Return and Property Income Accounts we will, provided the information can be easily obtained, deal with the enquiry within the annual fee. However, if the examination is ongoing or is likely to require substantial time, we will report to you initially advising the anticipated costs of any additional professional time which will be necessarily incurred on your behalf. On the question of VAT, accountant’s fees for this type of service are exempt under UK VAT law provided they are performed for any person who belongs in a country outside the European Economic Area and the Isle of man. As is normal with all clients, any disbursements will be added to our charges as incurred.