HMRC is changing the way you file your taxes. Nuvo makes it easy.
FAQ
What is MTD?
It requires unincorporated landlords with income above certain thresholds to keep digital records and submit quarterly updates to HMRC through approved software.
How can Nuvo Help me?
We understand that transitioning to MTD can seem overwhelming. Our team is here to help you:
- Choose the right MTD-compatible software tailored to your business needs
- Ensure smooth set up and compliance with quarterly and year end submissions
- Provide ongoing support as you adapt to these changes.
Who does this effect?
From April 2026 landlords with a qualifying income of £50,000 and over will be required to sign up for Making Tax Digital.
What information will I need to provide?
For the quarterly submissions we will only need details relating to your self-employment or property business. Any other income such as employment, pensions, bank interest and dividends will need to be included on the year end summary.
Will it affect me?
HMRC will be writing to taxpayers over the coming months whose 2024/25 self-assessment tax returns show their total qualifying income as being either over or close to £50,000.
Qualifying income is the total income received in a tax year from self-employment and property. For example, if you receive income of £30,000 from self-employment & £25,000 from property, your qualifying income is £55,000 and you will need to sign up.
What will my deadlines be?
Under MTD your new deadlines will be:
- Q1 April – June: submission due by 7th August
- Q2 July – September: submission due by 7th November
- Q3 October – December: submission due by 7th February
- Q4 January – March: submission due by 7th May
Year End Summary: submission due by 31st January following the end of the tax year
Suggested Software: FreeAgent
- Smart Capture – upload receipts and bills easily using your phone.
- Bank Feeds – connect your property account to import transactions automatically.
- MTD ITSA Ready – fully compliant for digital submissions to HMRC.
- Free with Certain Bank Accounts – available at no cost with Mettle, NatWest, or RBS business banking.
- Simple Insights – track profitability per property, giving you better oversight of your portfolio.
We recommend FreeAgent for landlords as it’s intuitive, HMRC-recognised and comes with property-specific features:
- Property Tracking – manage multiple properties in one place, with income and expenses linked to each property.
- Joint Ownership Support – one licence can cover jointly-owned properties.
In summary: FreeAgent is designed with landlords in mind, making MTD ITSA compliance straightforward while helping us stay on top of property finances with minimal admin.
Real time information also gives us more opportunity to collaborate on how your business in performing and plan ahead to mitigate those tax bills.
