Making Tax Digital for Landords UK - Useful Information

Making Tax Digital For Landlords

Helping landlords navigate the transition to Making Tax Digital, providing comprehensive guidance, software support, tax optimisation, and ongoing compliance.

Unlock the Benefits of Making Tax Digital (MTD) with Expert Guidance

Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) requires landlords with qualifying income to maintain digital records and update HMRC each quarter using compatible software.

With my expertise, you can feel confident that your rental income and expenses are being managed compliantly and tax-efficiently under the new MTD for ITSA framework. I'll handle the technical complexities on your behalf, from choosing the best MTD software for maintaining accurate digital records and submitting your quarterly updates and annual declarations to HMRC.

MTD For Property Owners

XERO Certified

Fully certified XERO accounting software.

Full Training Given

Complete onboarding and training for all my clients.

Guidance and Compliance

Guiding you through the process, giving you expert advice along the way.

Regular Digital Record-Keeping with MTD Compatible Software

Landlords will need to keep digital records of income and expenses using MTD-compatible software. This can include spreadsheets, accounting software, or other digital tools.

Quarterly reporting means landlords will need to submit a summary of their business income and expenses to HMRC every three months using MTD-compatible software.

Landlords will need to submit their tax returns online using MTD-compatible software. This can be done through HMRC online services or through third-party software.

Landlords will need to ensure that their software is up-to-date and compatible with HMRC's systems.

Property Tax Specialist

Experienced specialist in Property tax in London.

Tax Planning

Strategies geared towards landlords and buy-to-let investors.

Tax Advice

Assistance, advice and guidance with MTD.

Personal Service

Tailored services that cater to specific requirements.

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MTD For Property Owners
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Frequently Asked Questions

What is Making Tax Digital (MTD) for Landlords?

MTD for Landlords is a UK government initiative that requires landlords to maintain digital records and submit their rental income and expenses information to HM Revenue & Customs (HMRC) using compatible accounting software.
Do I need to register for MTD if I am self-employed?

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What are the key requirements under MTD for Landlords?

Landlords must maintain digital records of their rental income and expenses using MTD-compatible software. They are required to submit quarterly updates to HMRC, followed by an annual declaration.
Can landlords still use spreadsheets for record-keeping?

Yes, landlords can use spreadsheets for record-keeping, but they need to use MTD-compatible software to submit their quarterly updates to HMRC.
How often do landlords need to submit updates to HMRC?

Landlords must submit quarterly updates within one month after the end of each quarter. Additionally, they need to submit an annual declaration within nine months after the end of the accounting period.
What are the penalties for non-compliance with MTD for Landlords?

Penalties for non-compliance may include late filing penalties, interest on unpaid taxes, and potential surcharges for persistent non-compliance.
Can landlords use agents to submit MTD updates on their behalf?

Yes, landlords can authorize agents (such as accountants) to submit MTD updates on their behalf using compatible software.

Helping my clients make a smooth transition to Making Tax Digital

I am a certified instructor helping my clients transition to MTD. I offer full training and personal service for all my clients.

You can talk to me about any concerns or questions you may have and will always respond quickly and efficiently to any queries.

I understand that getting used to regular tax filing and new online accounting software can seem daunting. So having a trusted accountant is crucial to having peace of mind, and I will go above and beyond to make sure that this is the case.

Making sure that no matter your situation, you are being correctly taxed. I take care of your business and personal tax returns so you don't have to worry about getting it wrong!

- Andrew Passer

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Institute of Financial Accountants

I am a Fellow of the Institute of Financial Accountants, and have been practicing for over 40 years.

The Institute of Financial Accountants (IFA) is an internationally recognised professional accountancy membership body providing dedicated support to SMEs and SMPs.