A new software tool has been launched using artificial intelligence to input and reconcile data from rental statements.
The landlord-specific FreeAgent for Landlords software has been enhanced to provide the capture and reconciliation feature for unincorporated landlords and their accountants and bookkeepers.
The firm claims the new feature will also help landlords more easily manage the switch to Making Tax Digital for Income Tax.
Under the legislation, anyone with qualifying income of at least £50,000 is now required to keep digital records and make quarterly updates to HMRC in addition to their annual tax submission.
Those with qualifying income of £30,000 will be brought under the new rules next April, while those earning £20,000 will have to comply from April 2028.
In total, around 876,000 UK landlords will be impacted by MTD for Income Tax over the coming years.
