From 6 April, 125,000 landlords and sole traders in the property sector must use Making Tax Digital (MTD) software, in the biggest change to the Self-Assessment system since 1997. Support is available to those impacted, and HMRC has confirmed that no penalties will be issued for late quarterly updates in the 2026 to 2027 tax year as the system beds in.

With elections to the Senedd approaching, we have set out clear priorities for the next Welsh Government to support a stable, professional and sustainable housing sector. Our new manifesto, published in Welsh and English, outlines practical steps to increase supply, raise standards and support property professionals, while ensuring consumers are protected.

With Holyrood elections set for 7 May 2026 and a national housing emergency declared in 2024, we have set out what the next Scottish Government must do to support a stable, affordable and functioning property market. Our manifesto focuses on practical reforms that increase supply, improve affordability and strengthen professional standards — shaped directly by member insight.

Whilst nothing significant was delivered defining housing policy, the statement set the tone for future decisions. Yet, without sustained, targeted support for housing, the underlying pressures in the property market will remain. Transactions depend on confidence, investment depends on stability, and supply depends on a coherent long-term strategy.

The Welsh Government’s 2026–27 Budget, approved by the Senedd on 27 January 2026, includes extra support for councils, changes to business rates from April 2026 and more funding for Green Home Wales, but key opportunities were missed to support rental supply and first-time buyers.

Many self-employed property agents and landlords are accustomed to submitting a Self-Assessment tax return annually. However, as the tax and regulatory landscape becomes increasingly complex, the risk of mistakes or missed deadlines could grow, particularly for landlords with small portfolios who must juggle compliance alongside day-to-day responsibilities.

The private rented sector (PRS) is being reshaped by changing motivations and new financial pressures, which help explain the structural changes behind shrinking stock levels, higher churn, and new expectations around compliance and profitability. For agents, these insights help develop and position services to effectively address the needs of their clients in a shifting market.

Despite a multi-year commitment to affordable housing supply and increased investment in acquisitions and homelessness prevention, it is surprising that the Scottish Government is yet again failing to tackle the housing emergency, and the Budget misses an important opportunity to address the growing tax burden on housing. At a time of acute housing pressure, Scotland needs policies that encourage mobility and investment across all tenures.

Despite weeks of speculation, the Chancellor’s speech contained no changes to Stamp Duty and, disappointingly, no announcement on LHA rates , which remain frozen. However, Rachel Reeves, MP, has pushed ahead with plans for a ‘mansion tax’ on properties worth over £2 million, an increase in property income tax, and increases to the National Minimum Wage.

HM Treasury must not delay any longer on measures to tackle the growing pressures across the housing market. Without bold action, the supply of homes to rent and buy will continue to fall short of demand. Our message to the Chancellor is clear - stability in the property market depends on policies that make investing, renting, buying and selling homes affordable and sustainable. The Budget on 26 November 2025 is the UK Government’s opportunity to restore confidence and drive growth across the housing sector.

Propertymark has responded to proposals on how future changes to the Welsh Tax Acts should be made, recommending that the Welsh Government should adopt a Land Transaction Tax (LTT) system that promotes accessibility, simplicity, and predictability, while avoiding excessive surcharges or complex rules that could slow transactions.

Propertymark has responded to the Welsh Government’s consultation, which looks at changes to the way holiday lets are assessed for business rates and Council Tax. The consultation considers averaging days let over multiple years, recognising charitable donations, and introducing transitional arrangements for properties moving from non-domestic rates to Council Tax.

Propertymark has responded to the Welsh Government’s Draft Budget for 2026–27 with a warning that without tax reform, the continued loss of landlords will deepen affordability issues for tenants and increase pressure on local authorities to house more people in the social sector. A vibrant private rented sector (PRS), alongside investment in social and affordable housing, is essential to meet demand and ensure all people in Wales have access to decent and secure homes.

Any newly self-employed agents, those earning untaxed income, or receiving income outside PAYE who need to complete a tax return for the first time for the 2024-2025 tax year, must register with HMRC by 5 October 2025.

Property agents in Wales could face a landscape where changes to Land Transaction Tax (LTT) occur with far less notice, under new proposals from the Welsh Government that include options for streamlining how tax laws are updated, including those governing property transactions. The proposals, open for response until 28 November 2025, could have significant implications for agents and their clients.

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.