Making Tax Digital (MTD) for landlords is approaching quickly and it’s set to change the way rental income is reported for good.
But what exactly is Making Tax Digital?
Making Tax Digital is a UK government initiative led by HM Revenue and Customs (HMRC) to modernise the tax system. For landlords, this means moving away from a single annual tax return and instead keeping digital records of income and expenses, then submitting updates to HMRC every quarter using compatible software.
The aim is to make tax reporting more accurate, more transparent, and easier to manage in real time but for many landlords and agents, it also means more frequent reporting and a shift in how financial data is handled.
For letting agents and property professionals, this change brings new challenges: more reporting requirements, tighter deadlines, and an increase in queries from landlords who expect everything to be handled seamlessly on their behalf.
The move to quarterly submissions can feel like a significant administrative burden. But with the right tools in place, it doesn’t have to be.
That’s why our payment platform, LettsPay, has partnered with Nexus to simplify the entire process. Together, we’re helping agents and landlords stay compliant without adding complexity to their day-to-day operations.
By using the rent, expense, and ownership data you already manage within LettsPay, Nexus automatically transforms this information into fully MTD compliant digital records. There’s no need for duplicate data entry or complicated manual processes everything flows smoothly from collection to compliance.
Landlords can then review their financial data and submit their quarterly updates directly to HMRC through Nexus quickly, clearly, and with confidence.
The result? Less admin, fewer errors, and a far more efficient way to stay on top of MTD requirements.
If you’d like to find out more about how LettsPay and Nexus can support you and your landlords through Making Tax Digital, get in touch with Emily or James today.
