My letting agent only sends annual statements: how to meet the Making Tax Digital quarterly deadlines

By Patrick Roper ACA, ICAEW chartered accountant. Last reviewed 1 November 2026. Figures next checked by 1 December 2026.

Ask the agent for a statement each month or each quarter; most agents' software produces one on request and many already email a monthly remittance with each rent payment. If the agent will only do annual, the monthly remittances plus your bank feed give you the quarterly figures: rent received, agent fee deducted, repairs recharged. The quarterly update is a summary by category, not a return, and HMRC accepts estimates that are corrected at the year end.

Why the annual statement does not work

The quarterly updates for a tax year starting 6 April 2027 are due on 7 August, 7 November, 7 February and 7 May. An agent's annual statement for the year to 5 April arrives in April or May, after three of the four deadlines. LITRG's guide says it plainly: an annual statement "is unlikely to be sufficient", and you may have to ask the agent for the information more often or keep basic records yourself.

What to ask the agent for

1. A monthly remittance advice with each payment. Most agents already send one. It shows gross rent collected, the management fee, any repairs or inventory charges deducted, and the net paid to you. That is the whole quarterly update for that property.
2. A quarterly statement to 5 July, 5 October, 5 January and 5 April if they will only produce summaries. Ask for it within two weeks of the quarter end so there is time before the 7th of the following month.
3. A CSV or PDF export rather than a portal login, so the figures can be filed and kept for the five years HMRC requires.

If the agent says no

• Use the bank feed. The net payment that lands in your account each month, plus the remittance advice, gives gross rent and fee. Repairs the agent recharges appear on the same remittance advice.
• Estimate and correct. HMRC's quarterly update is a summary, not a tax return. If a repair invoice arrives late, it goes in the next quarter. The year-end return is where the figures are finalised.
• Joint owners can leave expenses to the year end. HMRC's easement lets a joint owner report only their share of gross rent each quarter for the jointly owned property, which removes most of the agent-statement problem for couples.
• Change agent at the next renewal if they cannot produce a quarterly figure. Several agent platforms now export in MTD format, and the NRLA and ATT both note that agents are being asked for this.

How this works with us

You forward the agent's monthly remittances by email or WhatsApp as they arrive, or once a quarter in a batch. They are categorised, queries come back in one message, and the update is filed before the 7th. The annual service is £399 for up to three properties; the £69 a month option does the bookkeeping as the remittances arrive so nothing is left to the deadline.