Beyant Khosti, Director of TaxAssist Putney
The process of buying a property, particularly in London, often involves far more than simply finding the right home. From preparing finances correctly to understanding tax implications and structuring income effectively, professional guidance can make a significant difference.
At Oportfolio Mortgages, we regularly work alongside accountants and tax professionals to help clients put themselves in the strongest possible position when purchasing property or applying for a mortgage.
We recently sat down with Beyant Khosti, Director of TaxAssist Putney, to discuss the challenges clients are facing, the importance of financial preparation, and the growing overlap between accountancy and mortgage advice.
About Beyant & TaxAssist Putney
Q: Could you introduce yourself and your role at TaxAssist Putney?
My name is Beyant Khosti, and I am the Director of TaxAssist Putney. I have over 15 years of experience as an accountant and have been running my own practice for the past 10 years.
Q: Can you tell us a bit about the business and the types of clients you typically work with?
We work with a broad mix of clients, ranging from individuals who require Self-Assessment services through to limited companies. Most of our limited company clients operate in sectors such as small business and hospitality. Our individual clients typically include people with rental income, as well as employment and pension income.
Q: Do you specialise in any particular areas or types of clients?
Yes, we specialise in the care home industry, small businesses such as retail and food businesses, sole traders (including consultants), and landlords with rental income. We support these clients with bookkeeping, VAT and Making Tax Digital (MTD) compliance, complex Self-Assessment and Capital Gains Tax returns, annual accounts, Corporation Tax, payroll and CIS, business start-ups, HMRC compliance and enquiries, and ongoing tax planning and advisory services.
Supporting Clients Beyond Tax Returns
Q: What are the most common challenges your clients come to you with?
The most common challenges our clients face include keeping on top of deadlines, understanding their tax obligations, and staying compliant with HMRC requirements, particularly around VAT and Making Tax Digital. Many clients also come to us for support with cash flow management, record-keeping, and navigating more complex tax situations such as rental income, Capital Gains Tax, or transitioning from a sole trader into a limited company.
Our role is to simplify these challenges, provide clarity, and remove the stress so clients can focus on running their business or managing their finances with confidence.
Q: How do you typically support clients beyond just filing accounts or tax returns?
From the moment we take on a client, we are committed to providing a high level of customer service alongside technical expertise. Clients choose us not only for our knowledge, but also for the way we support them throughout the year. This includes prompt communication, keeping clients informed at every stage, and being available to answer questions whenever needed. Our aim is always to go above and beyond so clients feel supported, informed, and confident.
Q: What do you think makes a strong accountant–client relationship?
Transparency is key. When clients understand the processes involved and feel informed about their financial position, it gives them confidence and peace of mind. Open communication and mutual trust are essential in ensuring clients feel reassured that their financial matters are being handled professionally and in their best interests.
Financial Preparation Before Buying a Property
Q: From an accountant’s perspective, what should someone be doing financially before they start looking to buy a property?
Buying a property is a significant financial commitment, so it’s important to be well prepared before starting the process. From an accountant’s perspective, this means having sufficient savings not only for the deposit and purchase costs, but also maintaining a strong financial safety net.
Ideally, buyers should have an emergency fund equivalent to around nine months of household income to ensure they can comfortably manage mortgage payments and living expenses if circumstances change unexpectedly.
Q: How far in advance should people begin preparing for a mortgage application?
Ideally, people should begin preparing at least 12–24 months in advance. This gives enough time to build a consistent financial track record, improve credit scores, and ensure income is presented in the most suitable way for lenders.
Q: Are there any key documents or habits that can make the process smoother?
Keeping financial records organised and accurate can save significant time and reduce delays during the mortgage process. Lenders will typically require documents such as:
- Recent tax returns (SA302s)
- Tax year overviews
- Payslips (if employed)
- Bank statements
- Proof of deposit
Avoiding unnecessary credit applications, managing spending carefully, and keeping personal and business finances separate can also help ensure a smoother process.
Self-Employed Mortgages & Financial Planning
Q: What do mortgage lenders typically look for when assessing self-employed applicants?
Lenders focus heavily on the reliability and sustainability of a self-employed applicant’s income. They typically review two to three years of accounts or tax returns, assess whether profits are stable or increasing, and look at the overall health of the business. Professional credibility also helps. For example, a builder with NVQ or CIS registration, or an electrician with NICEIC certification, can help strengthen confidence. Strong credit history and a solid deposit also improve approval chances.
Q: Are there common mistakes you see self-employed individuals make when preparing their accounts for a mortgage?
One of the biggest mistakes is poor financial planning. Weak cash flow management, overstating expenses, or inconsistent record-keeping can reduce reported profits and ultimately impact borrowing potential. Lenders want reassurance that income is sustainable and that the business is financially stable.
Q: How can accountants help clients strengthen their mortgage application?
Accountants can help by ensuring clients maintain accurate financial records and strong management systems. By helping track income and expenses properly, supporting budgeting and cash flow planning, and building reserves, accountants help present a more reliable and structured financial picture to lenders. This ultimately improves credibility and increases the likelihood of mortgage approval.
Q: What advice would you give to someone self-employed who is planning to apply for a mortgage in the next 6–12 months?
Keep things simple and tidy. Make sure your accounts are up to date, avoid mixing personal and business spending, and avoid taking on unnecessary debt shortly before applying. Even smaller things, such as staying within overdraft limits and paying bills on time, help demonstrate good financial management.
Common Financial & Tax Mistakes Buyers Make
Q: What are some of the most common financial or tax mistakes you see homeowners or buyers make?
A common issue is underestimating tax liabilities and property-related costs. Some buyers also fail to seek professional advice early enough or overlook the tax implications of rental income and future Capital Gains Tax.
Q: Are there things people often overlook when budgeting for a property purchase?
Absolutely. Many buyers focus heavily on the deposit and mortgage repayments, but underestimate additional costs such as:
- Stamp duty
- Solicitor and conveyancing fees
- Valuation and survey costs
- Mortgage arrangement fees
- Insurance
- Moving costs
Factoring these in gives a far more realistic understanding of affordability.
Q: Do you often see clients caught out after they’ve already purchased a property?
Yes, particularly landlords. Many buyers assume rental income automatically equals profit, but underestimate the true costs involved in letting a property, alongside the associated tax and compliance responsibilities.
Advice for Landlords & Property Investors
Q: What key tax considerations should landlords be aware of?
Landlords need to understand how rental profits are taxed, what expenses are allowable, and how mortgage interest relief works. They should also consider Capital Gains Tax when disposing of property. From April 2026, many landlords will also fall under Making Tax Digital for Income Tax, which will require digital record-keeping and quarterly submissions to HMRC.
Q: Are there any common pitfalls for new landlords?
One of the biggest pitfalls is treating rental income as “side income” rather than viewing it as a business. This often leads to poor record-keeping, missed allowable expenses, and lack of awareness around tax obligations. New landlords can also underestimate ongoing costs such as maintenance, insurance, compliance, and void periods.
Q: Are there any recent changes or trends in property taxation that landlords should be aware of?
Yes, particularly Making Tax Digital and increased HMRC compliance activity. HMRC is becoming increasingly strict around undeclared or incorrectly reported rental income, so accurate records and proactive tax planning are becoming more important than ever.
Why Mortgage Brokers & Accountants Work Best Together
Q: From your perspective, how important is it for clients to have both an accountant and a mortgage broker involved in the process?
Having both an accountant and a mortgage broker involved really strengthens the entire process. The accountant ensures figures are accurate and clearly presented, while the mortgage broker understands which lenders are best suited to the client’s circumstances and how to position the application effectively. Working together removes a lot of guesswork and gives clients a much better chance of securing the right mortgage with less stress.
Q: How can the two work together to achieve the best outcome for a client?
From a client’s perspective, having both professionals aligned creates a much smoother and more reassuring experience. The accountant keeps finances organised and structured, while the broker translates that information into a format lenders understand. This reduces confusion, avoids delays, and helps the process move more efficiently.
Trends in the Market
Q: Are you seeing any trends at the moment in terms of clients buying property or structuring their finances?
There’s definitely been a shift in mindset. Clients are now looking beyond simply minimising tax and are thinking more holistically about how their finances appear to lenders. The focus is increasingly on stability, consistency, cash flow, and long-term financial positioning.
Q: Are more clients becoming self-employed or running businesses, and how is that impacting mortgage applications?
We are seeing a steady rise in self-employed individuals and growing confidence among sole traders. There is increasing awareness around the importance of maintaining strong financial records and consistency over time. The introduction of Making Tax Digital should also help improve transparency and streamline processes for sole traders moving forward.
Final Thoughts
Q: If you could give one piece of financial advice to someone buying a home in London, what would it be?
Plan well in advance and don’t overstretch yourself. Make sure the purchase is sustainable not only today, but also in the long term.
Q: If someone is unsure whether they need an accountant, what would you say to them?
An accountant doesn’t just deal with numbers. We provide clarity, reassurance, and strategic advice. Whether you’re buying property, running a business, or managing your tax affairs, good advice at the right time can save money, reduce stress, and help people make better long-term decisions.
Need Accounting Advice?
TaxAssist are expert accountants, helping many clients with all their tax and accounting needs. If you want to discuss your situation with one of their experts, get in touch here.
Need Mortgage Advice?
At Oportfolio Mortgages, we work closely with accountants, solicitors, estate agents, and other trusted professionals to help clients navigate the mortgage process as smoothly as possible. Whether you are self-employed, purchasing your first home, investing in property, or restructuring your finances ahead of a mortgage application, our team is here to help. To speak with Oportfolio Mortgages, get in touch today.
