MTD and Jointly Owned Property: What You Need to Know

If you’re a landlord or sole trader earning over £50,000 from your trade and property combined, Making Tax Digital for Income Tax (MTD ITSA) is heading your way — with mandatory reporting starting from 6 April 2026. While we’ve covered the general MTD rules in previous updates, this time we’re focusing on how it applies to income from jointly held property, which can have a few unique quirks. 🧾 What does MTD mean for joint property owners? Under MTD, you’ll need to keep digital records and submit Quarterly Updates to HMRC. For landlords with jointly owned property, that means your software or spreadsheet needs to: Track each income and expense item using HMRC’s prescribed categories Submit year-to-date totals for each category, every quarter ✅ Two helpful easements for simpler reporting HMRC has introduced a couple of easements that can really simplify things for landlords with jointly held property income: Turnover under £90,000?You don’t need to break things down into detailed categories — it’s enough to record each item as either ‘income’ or ‘expense’. Jointly held property?You can submit just one income total per quarter, and one annual total expense figure (submitted in Quarter 4). 💡 And yes — if you qualify for both, you can combine them. That means just one quarterly income figure and one yearly expense figure. Much simpler! What should you do next? Review your income for 2024/25 to see if you’ll hit the £50,000 threshold Check whether your property is jointly owned and how income is recorded Start looking into MTD-compatible software that suits your needs Ask us to review your current setup and help you prepare in good time At A&C Chartered Accountants, we’re already supporting landlords and small businesses to get MTD-ready — without the overwhelm. If you’ve got questions about how these rules apply to you or want help choosing the right software, just get in touch. 📞 Let’s make MTD simple. At A&C Chartered Accountants, we're not just accountants; we're your partners in success. Based in Manchester, our experienced team handles everything from managing limited company and sole trader accounts to expertly navigating tax returns. Beyond financials, we play a crucial role in driving your business’s growth, strategically steering it towards success with confidence and clarity.

🧾 What does MTD mean for joint property owners?

✅ Two helpful easements for simpler reporting

What should you do next?

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