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Making Tax Digital for Landlord

Two people pointing at a laptop making tax digital for sole traders.

Making Tax Digital for Landlord

Making Tax Digital (MTD) is changing the way that small businesses engage with HMRC and manage their tax liabilities. From April 2024 all Landlords will be required to file detailed quarterly returns with HMRC, regardless of the number of properties you own. To do that effectively you will need to keep digital accounting records. As many landlords will not have an accountant, this may be a good opportunity for them to get professional advice and have piece of mind that you are claiming all the right allowances, and have the right structure for your rental business. With restriction of mortgage interest relief, there may be benefits for landlords with more properties and higher interest costs to incorporate particularly with rising interest costs.

At David Howard we have s number of software solutions available to help you no matter how big or small your business, and the level of your budget.

Although MTD represents a big change, there will be many benefits including understanding tax liabilities much earlier and streamlining the tax return process. Most of the options will work best bey separating business and rental bank accounts and with online software, the rental bank account will link directly to the accounting software and much of the accounting work can be automated. Software works equally well on a mobile app or desktop so you are able to raise invoices or log expenses on the go. You can also easily access your information from anywhere , eliminate paperwork, and share data with us as your accountant. You end of year accounts and tax returns will be a much easier process too, and you will know your tax bills quickly to help you plan your cash flow. Software can be set up to track income and expenditure on different properties, to allow you to have full reporting to understand profits and losses on each property. With rising costs, and uncertainty over property prices careful review of investment strategy is going to be important.

Our main recommended software solutions are as below;

Counting Up

A new account for your new business, trusted by over
50,000 sole traders and UK limited companies.

Quickbooks logo


Our simple, smart accounting software helps you take control of your finances – whatever your business size


Free Agent

Ace your Self Assessment with our award-winning accounting software



Explore Xero accounting software and its tools for small businesses, accountants, and bookkeepers

The cost of these software options ranges as does the detailed functionality, so it is important to chose the option that best suits your business.

Please contact us today to let us help you prepare and get you ready for MTD nice and early and give you piece of mind and the best possible solution.

Contact us to arrange a free meeting

Please contact us now to arrange a free 1 hour meeting to see how we can help you.