What it produces
- Your SA105 property pages figures, box by box
- The Section 24 finance cost calculation
- Capital gains figures where a property has been sold
- A CSV export for an accountant
What it does not do
The Tax page does not submit anything to HMRC: the SA105 figures are for a return you or your accountant file. Filing under Making Tax Digital happens on the MTD page, and only when you press send there. The distinction matters: a figure prepared for you is still a figure you are responsible for.
Making Tax Digital
Income and expenses are recorded as you go and totalled cumulatively across the quarters, which is the shape MTD for Income Tax expects. Keeping records through the year is the part that actually takes effort; the quarterly total is arithmetic once the year is recorded properly. Quarterly updates are sent from the MTD page, which is free for one property.
Mileage and allowances
Mileage is calculated at the HMRC rate for the tax year in question, not at the current rate. An amended return for an earlier year computes at that year’s rate, which is the correct treatment and the reason the figure sometimes differs from a calculator that only knows today.
