• Digital record-keeping: You'll need to maintain your income and expense records in a digital format using MTD-compatible software. Traditional spreadsheets or manual bookkeeping might no longer be sufficient.
• Quarterly & end-of-year submissions: You're required to send quarterly updates to HMRC detailing your income and expenses. Also, an end-of-period statement (EOPS) is required, with the option to include additional income sources and claim allowances or reliefs.

Important MTD ITSA timelines

• April 2026: Landlords and businesses with gross income exceeding £50,000 annually will be mandated to comply.
• April 2027: The threshold drops to £30,000, encompassing a wider pool of landlords

1. Understand your income threshold: Determine if your gross rental income, along with any self-employment income, exceeds the thresholds. Also consider if your portfolio goals in the coming years, before MTD ITSA, are set to push you over (or bring you under) each threshold. This sets your MTD ITSA start date
2. Choose MTD-compatible software: Explore a range of software solutions specifically designed to support MTD compliance. Some popular providers include Xero, FreeAgent, and QuickBooks. Research features and pricing to find the best fit for your needs
3. Start organising your records: If your existing records aren't already digitised, begin migrating them. This will minimise stress around the compliance deadlines
4. Consult a tax advisor: If you have complex tax affairs, consider speaking with a tax advisor or accountant who can guide you through the specific implications of MTD and individual circumstances
5. Stay updated: HMRC and reputable accounting websites offer resources and updates on MTD. Stay informed to avoid surprises or unexpected requirements
   
   

• Enhanced accuracy: Digital record-keeping reduces errors and simplifies tax calculations
• Real-time tax clarity: Quarterly updates offer better visibility into your tax position, empowering you to make informed financial decisions
• Improved efficiency: Automating many tasks through MTD-compliant software saves time and effort previously spent on manual processes

• Time-saving management: We handle the day-to-day tasks of property management, including collecting rent, maintaining records, and managing tenant communication. This frees up your time and allows you to focus on other aspects of your life
• Network of trusted contacts: Access to a reliable network of professionals in the industry that can help guide you on the intricacies of MTD ITSA and your tax obligations
• A sounding board: Dealing with these matters alone can be an overwhelming experience. Having a point of contact, at any point throughout your journey, to lean on for advice and support pays dividends.