Lendlord users helped to prepare for the forthcoming Making Tax Digital for Income Tax reforms
untied, the UK’s personal tax app, today announced that Lendlord has chosen untied to power its tax capability for its landlord and property investor community.
With untied’s technology, Lendlord users will be able to manage their taxes from the Lendlord platform and get on top of their tax returns quickly and easily. The new collaboration combines both technologies to create a dedicated flow for landlords to manage information about their portfolios, income and expenditure. After adding other income sources they can then file their self-assessment tax returns to HMRC from the untied capability in their Lendlord account.
Since its launch, Lendlord has helped thousands of landlords and property investors manage their properties, track their performance and improve their bottom lines. By analysing users’ portfolios, it generates ongoing insights – such as finance and refinancing opportunities, expiring product rates and other performance observations that improve users’ portfolio performance and their property business profitability. As part of its functionality, Lendlord allows its users to manage and track their property cashflow via automation and open banking.
Lendlord has also joined untied’s Making Tax Digital for Income Tax Self-Assessment (MTD ITSA) early adopter programme, which is working as part of the HMRC pilot. Using untied’s live production solution for MTD ITSA, Lendlord users are able to prepare for the forthcoming changes.
Kevin Sefton, CEO, untied, commented: “We are delighted that we are working with Lendlord to deliver integrated tax filings for landlords. We are very much looking to the future. Property landlords will be mandated to report their income under Making Tax Digital for Income Tax Self-Assessment from 2024, and Lendlord’s users will be able to get going early thanks to this collaboration. We want to give Lendlord users a tax experience that’s smooth and secure, and provides them with the confidence that they’re doing tax right. We’ve admired Lendlord’s commitment to an integrated experience and are pleased to support it.”
Aviram Shahar, Co-Founder and CEO at Lendlord says: “We are excited about the opportunity to partner with untied. untied offers tax leadership in the market and the benefits of this collaboration for our users are immense, as they can now file their tax returns directly from their account with just a few clicks. More than that, this is the first step towards helping them digitise their tax returns in advance of the introduction of the Making Tax Digital for Income Tax reforms. Together with untied we are enabling those users who are interested to join the Making Tax Digital pilot."
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