TaxSimba — Letting Agent Statements and MTD: Record Gross Rent, Not Just the Payout
Preparation worksheet

Optional offline planning aid, not a tax return or filing confirmation.
Keep completed notes securely; never include passwords or one-time codes.

WORK THROUGH THIS EXAMPLE
An agent receives £1,200 rent, keeps £120 in fees and pays £1,080 to you. The statement explains gross income of £1,200 and a separate £120 fee. Recording £1,080 rent and deducting £120 again counts the charge twice.

DECISION TO RESOLVE
Does the gross rent less each identified deduction equal the payout?

YOUR POSITION
Relevant year and source: ____________________
Evidence supporting your answer: ____________________
Missing item and who will obtain it: ____________________
Deadline or next review date: ____________________

1. Collect every full agent statement.
Notes: ______________________________

2. Record gross rent and direct receipts.
Notes: ______________________________

3. Identify each fee, cost or retained amount.
Notes: ______________________________

4. Obtain supporting invoices for unusual deductions.
Notes: ______________________________

5. Reconcile bank transfers and tax-year cut-offs.
Notes: ______________________________

Actions agreed and responsible person:
____________________________________

Guide: https://taxsimba.co.uk/blogs/mtd-letting-agent-gross-rent-net-payment
Check the current guide and official sources before relying on a deadline or process.