There are a range of future tax changes that are already in the public domain. As a Landlord, understanding how this impacts you, ensures you can effectively manage future rents and scope of works.
Furthermore, changes over the next 3 years require income and expenses to be recorded digitally in a series of phased qualifying thresholds, so you should review when you need to register.
Making Tax Digital (MTD) Rules
Where your gross annual business or property income is in excess of the thresholds below then this means you should register with Making Tax Digital. Making Tax Digital for Income Tax for sole traders and landlords: step by step – GOV.UK
Your income and expenses must be recorded digitally, with quarterly and annual returns sent to HMRC with compatible software.
If you are yet to sign up , then check first it applies to you and then register. Once registered select the most suitable softwareyou’re your property business.
- From April 6th 2026 this applies to turnover in excess of £50000
- From April 6th 2027 this applies to turnover in excess of £30000
- From April 6th 2028 this is planned for those in excess of £20000