It’s no secret that I am a fan of digital record keeping for landlords. Obviously nobody likes the idea of doing tax returns (unless you’re pretty unusual!) but it does have a lot of benefits.
Regardless it’s worth noting that the recent budget has dropped the thresholds for people that will need to comply with the rules down to £20,000 by the end of the parliament.
So to give the thresholds here:
£50,000 from April 2026
£30,000 from April 2027
£20,000 by the end of parliament (no date but say 2029)
This is for those either self employed or in receipt of rental income over these numbers. It’s the top line number not the profit so by the time we get four or five years from now and we add inflation and rent increases this will be in for almost all landlords (two properties will probably get us there and three almost certainly will) pr and everyone self employed (other than part time or hobbyists) will need to do quarterly updates.