Editor's note: This brief was summarised by The Property AI Team from a report by Landlord Today. Read the original article for full details.
Making Tax Digital: Call for More Guidance for Landlords
A finance service has said that landlords need more guidance as Making Tax Digital for Income Tax (MTD) includes an increasing number of people. Ariun Kumar, co-chief executive of finance service Taxd, says that MTD is expanding, with over one million sole traders and landlords being told they have six months to get ready for inclusion in MTD.
The report highlights concerns about the level of support available to landlords as the scope of MTD widens. With over one million sole traders and landlords facing a six-month preparation window, the call for more guidance comes amid the expansion of the digital tax regime.
For letting agents and inventory clerks, the development is a reminder that landlord clients may need additional support and information as MTD requirements extend to more taxpayers. The original article provides further details on the call for more help.
Source: Landlord Today