MTD is only a change in the timing and the level of detail you must record in the property income and expenditure accounts you have maintained in the past.
We will work with you to ensure it is a matter of simple routine to produce and file your first MTD return due on 7 August 2026.
Only landlords who received more than £50,000 of combined qualifying income from either property or self-employment income, or both, in the tax year ended 5 April 2025 will need to begin reporting under MTD from April 2026. Qualifying Income includes the combined gross income from all self-employment and property sources before any tax allowance or expenses are deducted. It does not include income from employment (PAYE), a partnership, or dividends received.
Please click here to read our guide to MTD.
You represent a life-time stream of income to all of the software accounting houses who have invested in producing MTD-compatible software. So, the advertising to attract your attention will increase in the run up to April 2026 as they compete for your business.
Let us dispel one myth. You do not need to buy any MTD-approved software yourself. You could use our free MAAP Day Books system or the free Iris Cashbooks we can supply. Both will satisfy the HMRC's requirements for reporting under MTD.
That said, all of the MTD-solutions from Sage, Xero and Quickbooks are fit for purpose and they offer the advantage of streamlining how you manage your sales and purchases cycles, profit, and cashflow reports that are well worth the investment in both your time and money. We can work with you if you use any of the aforementioned products to complete your MTD reporting obligations.
For further information on MTD-approved software, click here.