Making Tax Digital (MTD) is a UK Government Initiative introduced by HMRC. This initiative digitizes the tax system to make it more efficient, accurate and easier to navigate. As part of this initiative, businesses are now required to keep digital records of their income and expenses, provide quarterly summaries of these incomes and expenses, and keep digital records for VAT purposes. Since April 2022, VAT registered businesses have been required to use HMRC-recognised MTD software for all tax returns.
Benefits of Making Tax Digital
MTD brings many benefits to a business, such as making it easier to keep accurate tax records. The MTD feature of RENT+ allows your business to say goodbye to manual calculations and paperwork. Instead, you can effortlessly produce your digital VAT return that is compliant with the MTD regulations and submit it to HMRC with ease. Your financial data can be stored in a digital form in one secure location, allowing you to ditch the paper trail and stay ahead of the changes to the tax system, whilst also being able to easily gain access to your financial reports.
Making Tax Digital with RENT+
Our software allows you to produce a VAT return for any date range, determine whether the figures are calculated on a cash or accrual basis, and optionally produce the report for a landlord or a property. You can then pay your VAT return immediately after submission. Achieve efficiency, accuracy and peace of mind surrounding your finances with the RENT+ MTD feature.
Email us at support@focus-property.co.uk or call us at 01865766241 to learn more about how RENT+ can aid your tax reporting process.
The Future of Making Tax Digital with RENT+
As we look ahead to the upcoming 2026 HMRC requirements, we’re actively planning the development of our MTD plugin to include support for Income Tax Self Assessment (ITSA), so you’ll be fully equipped and compliant when the changes come into effect. If you would like to hear more about these features as we develop, please email our support team on support@focus-property.co.uk to be added to our shortlist for updates!
Check out HMRC’s official update on the future of Income Tax Self Assessment (ITSA) and how it will impact sole traders and landlords in 2026:
Discover the future of MTD with HMRC