Do you know how HMRC initiative of MTD (making tax digital) project will impact you as landlord?
The consultation with HMRC and various letting associations are introducing the initiative
From 2019; Under a new timetable to implement the change, only landlords and businesses with a turnover above the VAT threshold (currently £85,000) will have to keep digital records and only for VAT purposes and they will only need to do so from 2019.
From 2010; Ministers had previously said it would apply to those with turnover above £10,000. Businesses and landlords will also not be asked to keep digital records, or to update HMRC quarterly, for other taxes until at least 2020.