Making Tax Digital – call for more help for landlords
Summary
The article reports calls for greater guidance and support for landlords as Making Tax Digital for Income Tax expands to more taxpayers. It highlights that the next threshold reduction to £30,000 gross qualifying income will bring additional landlords into quarterly digital reporting and require approved software.
Why it matters
Residential property surveyors who advise landlords or work alongside property investors should be aware of the changing tax reporting burden and its practical implications. The shift may affect landlord administration, compliance costs and the way clients manage property income records.
Key points
- MTD for Income Tax is expanding to include more landlords and sole traders.
- The threshold is due to fall from £50,000 to £30,000 gross qualifying income next April.
- Landlords will need approved software for quarterly submissions to HMRC.
- The article argues that many landlords may not understand the threshold because it is based on gross income, not profit.
- There are calls for clearer guidance and support with the cost of compliant software.
Organisations:
HMRC, Taxd
Regulations:
Making Tax Digital for Income Tax (MTD)
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