Property by property, not one big pile.
Rental income and costs tracked per property, finance cost restriction handled, and the figures shaped for the property pages of a return — with MTD for Income Tax in mind.
Usually on: Solo or Business
One bank account, eleven properties, and a return due
Most landlords run everything through one account and reconstruct the per-property picture in January from bank statements and a memory of which boiler belonged to which flat. It works until there are more than about three properties, or until a property is sold and the gain has to be worked out.
Qwikr tracks income and costs against the property they belong to as they happen, so the annual position is a report rather than an archaeology project — and so you can tell which properties are actually earning.
- Income and expenses attributed per property
- Finance cost restriction calculated rather than remembered
- Leases, deposits and rent reviews held against the property
- Disposals tracked for capital gains
What you get
Per-property tracking
Every transaction attributed to the property it relates to, so profitability can be read one property at a time.
Finance cost restriction
The restriction on mortgage interest relief applied as a calculation from the underlying figures, not a manual adjustment at the end.
Leases and tenancies
Lease terms, rent, deposits and review dates held against the property rather than in a folder.
Built for MTD for Income Tax
Digital record keeping shaped around ITSA quarterly reporting, which is what property income is heading into.
Capital gains on disposal
Acquisition cost, improvements and disposal proceeds tracked so a sale produces a computation rather than a search.
Receipt capture
Photograph the invoice from the plumber at the property and code it to that property on the spot.
Questions, answered
The income and expense tracking works the same way. The tax treatment of FHLs has been changing, so talk to your accountant about the current position — Qwikr keeps the records, it does not decide the treatment for you.
Ownership shares can be recorded so each owner sees their proportion, which is the figure that reaches their return.
Honestly, probably not — a spreadsheet copes with two. It starts earning its keep somewhere around five properties, or as soon as MTD for Income Tax applies to you.
Solo if you are just keeping records; Business once MTD for Income Tax applies or you are VAT registered on commercial property.
Other kinds of business
Built for landlords & property
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