Editor's note: This brief was summarised by The Property AI Newsroom from a report by Property118. Read the original article for full details.
Landlord Seeks Simple MTD Software Ahead of 2027 Deadline
A landlord has raised concerns about the upcoming Making Tax Digital (MTD) requirements, highlighting difficulties in finding a suitable digital tool. The landlord, who currently manages four properties, is looking for a straightforward and cost-effective software solution that can integrate with Xero and meet HMRC's MTD submission needs.
The landlord described feeling unprepared for the 2027 MTD deadline and shared their experience of trialling Landlord Studio's software. After adding property and tenant details, the landlord found the platform included many features they did not require, such as marketing tools and online rent collection options. The landlord expressed a preference for a simple product focused solely on collating and evidencing income and expenses for HMRC, without additional functions.
The landlord also noted the importance of compatibility with Xero, as this would allow for easier support from family members familiar with that platform. The post concludes with a request for recommendations for a straightforward, low-cost digital tool that can submit MTD reports to HMRC and work with Xero.
This issue is relevant for letting agents and inventory clerks who may be supporting landlords in transitioning to digital tax reporting systems ahead of the 2027 MTD deadline.
Source: Property118