Editor's note: This brief was summarised by The Property AI Team from a report by Letting Agent Today. Read the original article for full details.
Letting Agents Urged to Review Landlords’ Making Tax Digital Compliance
Letting agents are being advised to check whether their landlord clients who qualify are using Making Tax Digital for Income Tax (MTD), or if agents themselves should manage the process for these clients. The advice comes as sole traders and landlords with qualifying income over £50,000 are now required to use MTD.
According to Letting Agent Today, upcoming deadlines in 2027 and 2028 will also bring more agents into the process for their own businesses. This means agents should be aware of both their clients’ and their own obligations under the MTD rules.
The changes are relevant for letting agents and inventory clerks who work with landlords affected by the new requirements. Agents are encouraged to review their current procedures to ensure compliance with the latest tax regulations.
Source: Letting Agent Today