For a 2025/26 landlord return, gather gross rent, agent statements, allowable-cost evidence, finance costs, ownership details and periods of private use or vacancy. Keep any property sale separate because it can have an earlier reporting deadline. MTD work for 2026/27 covers a different year.
What “good enough” records look like
You pay tax on rental profit: rental income minus allowable expenses (and any allowances that apply). Gather:
- Rent received, including payments for furniture use and services you charge for (cleaning of communal areas, heating, and similar)
- Letting agent statements for the full tax year, not just December’s summary
- Bank statements that show rent and property spending
- Invoices and receipts for repairs, insurance, ground rent, service charges, accountant fees, advertising for tenants, and other wholly-and-exclusively property costs
- Finance costs paperwork (interest on mortgages/loans). Residential finance-cost relief is restricted; your accountant needs the figures even when relief is limited
- Mileage or vehicle logs if you claim property-business motoring
GOV.UK expects records kept for at least five years after the 31 January deadline for the year. A broader document list is in the Self Assessment documents checklist.
Jointly owned property
You are taxed on your share of the rental income. Married couples and civil partners living together are usually taxed 50/50 unless they have declared beneficial interests differently. For other joint owners, shares usually follow ownership unless you agree a different income allocation. Tell your accountant the ownership split and whose name is on the agent statements.
What else an accountant often needs
- Whether you use (or want) the £1,000 property allowance instead of expenses
- Rent-a-Room figures if you let a room in your home
- Capital improvements vs repairs (extensions and upgrades are usually capital, not revenue deductions)
- Other income on the same return (employment, dividends, savings interest, capital gains)
- Whether payments on account from last year need adjusting
Approval, filing and deadlines for this return
Online filing and payment for 2025 to 2026 are due by 11:59pm on 31 January 2027. Paper returns (if you still use one) must reach HMRC by 31 October 2026. If you need to tell HMRC you require a return for this year and you have not filed before (or you registered before but did not need a 2024 to 2025 return), that notification date is 5 October 2026. See the 5 October registration guide.
Prefer someone else to draft the figures from your pack? Upload documents through TaxSimba’s Self Assessment service, review the draft, and approve before filing where that step applies. We do not invent allowable expenses or guarantee a particular tax bill. Confirm allowances and reliefs on current GOV.UK pages for your lets.
Check the home nation used for your tax calculation
Tell the accountant whether you live in England, Scotland, Wales or Northern Ireland, and about any moves during the tax year. Scottish rates differ for wages, pensions and most other taxable income; savings and dividends use UK rules. Welsh rates are set separately. Use the rules for the relevant year and your actual taxpayer status.
See Scottish Income Tax and Welsh Income Tax. These differences do not make a London address or an England-only earnings example appropriate for everyone.
Split the mortgage statement before calculating profit
Illustrative preparation example.
Your mortgage payment is £900 a month, but that includes repayment of borrowing. Obtain the lender’s interest breakdown and keep it separate from rent, agent fees and repairs. Do not enter the full bank debit as a rental expense.
Check: Can the accountant identify interest, capital and any relevant finance charges?
| Check | Practical action |
|---|---|
| Does recorded income match gross rent? | Reconcile agent deductions and direct tenant payments to the annual rent schedule. |
| Are repairs and improvements separated? | Provide invoice descriptions and work details before deciding the tax treatment. |
| Is residential mortgage interest identified? | Separate interest from capital repayments and preserve the finance-cost evidence. |
Can I deduct the full mortgage payment?
No. Capital repayments are not a rental expense, and residential interest has its own restricted relief rules for individual landlords. Supply the lender breakdown.
Does MTD in 2026/27 replace this return?
No. The 2025/26 return is a separate tax year with its own filing and payment requirements. Keep its records separate from current MTD updates.
Download a checklist for this guide
- Prepare a gross rent schedule for 6 April 2025 to 5 April 2026.
- Collect full-year agent and bank statements.
- Record ownership shares and any changes.
- Separate repair, improvement and finance-cost documents.
- List other income, prior payments and return deadlines.