A new study shows that some 17.7% of landlords recorded annual rental income above £50,000, as the next quarterly update deadline under Making Tax Digital for Income Tax (MTD) approaches.
The requirements currently apply to eligible individuals with qualifying annual income above £50,000.
The threshold falls to £30,000 from April 2027 and £20,000 from April 2028, bringing more landlords into scope.
Qualifying income includes combined gross income from property and self-employment, before expenses, meaning landlords with rental income below the threshold may also need to comply.
The analysis comes from Lendlord, and its chief executive – Aviram Shahar – says:“More than one in six landlords in our analysis recorded annual rental income above £50,000.
“With the next quarterly deadline approaching and lower thresholds bringing more landlords into scope over the next two years, digital reporting is becoming an essential part of running a property business.
“The practical challenge is keeping records organised throughout the year. Bringing rental income, expenses and bank transactions together makes quarterly reporting more manageable and gives landlords a clearer picture of their portfolio’s performance.”
This article is taken from Landlord Today