Making tax digital for income tax has been postponed again by HMRC but it will be coming eventually. Outside of that though its still a great idea to have a great book keeping package if you are a landlord. That way you can be completely compliant when the time comes and also understand how your property portfolio is performing
So what software does Seagrave French recommend?
Well we like Hammock www.usehammock.com
The software allows you to connect your bank account to it and then you can set up tenants information on it and automatically allocate receipts against the property. It can easily deal with your management company statements and knows if there has been additional expenditure.
You also report on the individual performance of each tenancy and property to see if your getting the returns you need.
We have difference packages available for our clients – they can process the book keeping and we just do the tax return or we take over the full process.
For landlords with up to 3 properties the monthly cost is £6.99 so it doesn’t break the bank.