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Self-employed businesses in the UK with income over £50,000 will need to follow new rules for recording and submitting tax information under Making Tax Digital for Income Tax Self-Assessment (MTD for ITSA). Businesses and landlords affected by the change will be required to maintain digital records, use HMRC-approved software, and submit tax information quarterly, rather than through a single annual Self-Assessment return.
A study commissioned by HM Revenue & Customs (HMRC) confirms what Propertymark has long highlighted — UK Government tax policies are pushing landlords to sell, and the private rented sector (PRS) is feeling the strain. The research, conducted by Ipsos, offers a valuable snapshot of today’s landlords, drawing on responses from over 1,200 participants and in-depth interviews. Most alarmingly, nearly a quarter of landlords intend to reduce their property holdings in the next 12 months, with that figure rising to a third when looking at the next five years.
Plans are afoot to strengthen HMRC (HM Revenue and Customs) to act quickly and robustly against professional tax advisers who help clients avoid paying the correct tax. Propertymark welcomes this because it aligns with our calls to the Treasury, and we support HMRC’s ambition to ensure the financial sector upholds the highest standards and integrity of the tax system.
The UK Government’s Making Tax Digital (MTD) initiative is transforming how taxes are reported and managed, with significant implications for property agents. Self-employed individuals and landlords earning over £50,000 per year must comply with MTD for Income Tax Self-Assessment (ITSA) from 2026, and those earning over £30,000 from April 2027. In her Spring Statement on 26 March 2025, Chancellor Rachel Reeves, MP, announced that the threshold will decrease to £20,000 in 2028.