Here we'll be answering questions on how Landlord Vision integrates with Making Tax Digital. Where possible we’ll also consult with experts to answer your more in-depth questions about the MTD changes on the horizon. Read through the FAQs to get a better understanding and use the form to submit any MTD questions we haven’t answered on this page.
Making Tax Digital is a key part of the government's plans to make it easier for individuals and businesses to get their tax right and keep on top of their affairs. Some businesses are already keeping digital records and providing updates to HMRC as part of a live pilot to test and develop the Making Tax Digital service for Income Tax. You can voluntarily send Income Tax updates to HMRC instead of filing a Self Assessment tax return.
The following HMRC restrictions apply:
You can sign up for Making Tax Digital for Income Tax if all of the following is true:
You cannot sign up if you need to report:
As HMRC adds support for tax payers with income from other sources more landlords will be able to sign up for Making Tax Digital and submit data to HMRC through Landlord Vision.
For more information, please visit the following Making Tax Digital for Income Tax page on HMRC’s website.
* Landlords with income from self-employment will need to find a separate piece of software that is compatible with Making Tax Digital for Income Tax to submit updates for self-employment to HMRC.
Yes! Landlord Vision is MTD ready. You can use the integration if you meet the . As HMRC adds support for tax payers with income from other sources, more landlords will be able to sign up for Making Tax Digital and submit data to HMRC through Landlord Vision.
If you are eligible for the Making Tax Digital income tax programme, you can sign up for Making Tax Digital for income tax here.
You will only be able to submit property related tax information via Landlord Vision. The software aims to make financial, property and tenancy management simple for residential landlords which is why we don’t include commercial properties or VAT.
Yes, the 4 quarterly income tax updates and the annual summary can be filed by the software. All you need to do is record all the relevant information in the software and the statements will be prepared and submitted with just a few clicks.
According to what we currently know about MTD you will be required to store receipts electronically for ease of auditing and investigating, but you won’t be asked to submit those with your income tax updates. We have integrated with Veryfi so you can scan your receipts and upload them to Landlord Vision. Receipts are turned into expense items within seconds and the receipts are also stored in the software so landlords can remain compliant with the rules. This also makes managing expenses a lot easier.
Landlord Vision only deals with residential properties as it was designed to make managing residential properties easier for landlords. At the moment Landlord Vision doesn’t accommodate commercial properties or the payment of VAT or production of VAT receipts so you won’t be able to submit tax information for commercial properties through the software.
Yes! If you have furnished holiday lets you can submit the 4 quarterly income tax updates and the annual summary for these via Landlord Vision.
Landlord Vision is a software that’s been designed to meet the needs of residential landlords, so using the software means you can only submit your property data. This allows Landlord Vision to remain simple and easy to use for everyone.
You must follow the MTD rules for your next accounting period that starts on or after 6 April 2023, if your taxable turnover from your self-employed business or income from property is above £10,000.
If you have a Making Tax Digital question that we haven’t yet answered on this page, fill in the form below. We’ll publish the question and answer on this page if it isn’t here already. We’ll also email you the answer to make sure you’ve got it.
