Reporting property income to HMRC

When you connect software like Quarterwise to HMRC, one of the first things it does is ask which businesses are registered against your National Insurance number. For a landlord that should be a UK property business, which HMRC identifies with a business ID. Your quarterly updates are filed against it — but only HMRC can create it, by having your property income on your tax record.

If you already complete a Self Assessment return

If you already report rental income through Self Assessment, HMRC already holds a property business for you. It appears automatically when you connect — nothing extra to set up.

If you’re new to property income

If you’ve just started letting a property (or become a co-owner and have never reported rental income before), HMRC won’t have a property business for you yet. You need to tell HMRC about the income first:

• Register for Self Assessment — choose the option for income from property or land.
• Renting out a property: paying tax — HMRC’s overview of a landlord’s obligations.

Once HMRC has registered your property income, your property business appears the next time you connect.

A note for joint owners

If you own a property with someone else, each of you reports your own share under your own details — you don’t share one tax account. In Quarterwise you keep the books together once, and each owner files their percentage with HMRC separately.

Not sure whether MTD applies to you yet? Check the income thresholds.

Common questions

Last updated 7 June 2026. Quarterwise is software, not a tax adviser — if you’re unsure how the rules apply to you, check with HMRC or a qualified accountant.