Bookkeeping / Making Tax Digital
Making Tax Digital software for landlords
Who does Making Tax Digital affect?
Making Tax Digital for Income Tax applies to sole traders and landlords registered for Self Assessment whose qualifying income from property and self-employment combined exceeds the relevant threshold. The thresholds are being phased in over three years.
- Income from employment (PAYE) and pensions is not included in qualifying income
- If you own a property jointly, gross rental income is divided between owners
- Limited company landlords are not affected – MTD for Income Tax applies to individuals only
- HMRC will use your most recent tax return to determine whether you need to comply
What does Making Tax Digital require?
Under MTD for Income Tax, landlords must do three things. These submissions must be made using HMRC-recognised software, either by you directly or through an accountant acting on your behalf.
How COHO helps with Making Tax Digital
COHO has developed tools that let you extract MTD-ready financial data directly from your account. COHO users can download categorised income and expense information, aligned with the requirements of MTD for Income Tax and pass it on to their accountant.
Because COHO handles both your property management and your financial records in the same platform, the data you need for MTD is generated as part of your normal workflow. There is no separate accounting system to maintain and no manual export process to set up.
Important
COHO is not HMRC-approved submission software
COHO does not submit directly to HMRC. What is does is make the record-keeping side straightforward so that the submission process, handled by your accountant or compatible tax software, runs without friction.
If you have any questions about how this applies to your account, please get in touch.
One platform, no extra cost.
Unlike standalone landlord accoutning software, COHO’s bookkeeping and reporting tools are built directly into the property management platform. MTD record-keeping is included at no additional cost on every subscription.
MTD record-keeping included
Generate the categorised income and expense records MTD requires automatically, from the same platform you use to manage your portfolio.
Rent collection already tracked
Rent collected through COHO is automatically logged and categorised in your account, no manual data entry required.
Expenses logged as you go
Maintenance costs, management fees, and other expenses are recorded directly in COHO as part of your normal workflow, not retrospectively at quarter end.
Export ready for your accountant
When your accountant needs the data, it is already organised and ready to download. No spreadsheets, no cross-referencing, no scrambling.
