We hope you enjoyed our first webinar! We were thrilled to have so many of you log in, and submit questions - In fact so many questions were submitted that we haven't been able to squeeze our answers into just one post! 

*Some questions have been edited for clarity 

Landlord & Property Questions 

What do I do if an expense doesn't relate to a single property? i.e Insurance?

With APARI, you can allocate transactions to individual properties or to your landlord business as a whole.

I am a landlord with a small property portfolio and have previously used an accountant. My records have been digitally recorded since I started as a landlord in 2005, so I'm interested to see what difference your software makes to me.

We often get asked if our software can help tax payers who already use an accountant - read our blog all about when to use software and when to use an accountant! 

I jointly own a rental property with a partner/spouse/ friend / relative. Currently we calculate the property as a whole then split the totals by the proportion owned, and input these figures into our tax return - how does this work with MTD?

Making Tax Digital is a personal tax obligation - this means that you as an individual are required to submit information regarding any self employment or property income incurred during the tax year - this includes jointly owned property.

This means that rather than just splitting the total income and expenses at the end of the year, by proportion of ownership, you will need to split each transaction relating to that property . The New APARI software will include functionality that will help automate the split, to save you from having to manually split each transaction, making your MTD process, simple and efficient.

Are landlords classed as self-employed?

In the eyes of HMRC property income is seen to be self employment income - however whereas each self employment business will need to be input separately into both the SA100 and MTD, you do not need to do this for each individual property. Instead all property income comes under the same income "banner".

What if we have no business name? We are landlords so do not have a registered business name.

The business name is more of a personal identifier - if you do not have a name that you identify with your self employment or property business, you can use your own name, or even the address of the property.