This week we’re launching FreeAgent for Landlords, a new version of our award-winning software built specifically for your clients who earn income from property.
FreeAgent for Landlords is designed for unincorporated landlords who own up to five properties and earn at least £10,000 per year from property and/or self-employment, meaning they’ll be affected by Making Tax Digital for Income Tax Self Assessment (MTD for ITSA).
These clients can use FreeAgent for Landlords to keep digital records of their property income and costs, and track their properties’ profitability. We’ll be adding support for MTD for ITSA submissions to the software before the legislation comes into effect in April 2024.
FreeAgent for Landlords has a dedicated ‘Property’ feature that allows clients to attribute income and costs to specific properties and then track their profitability.
All the other relevant features of FreeAgent are included, including recurring invoices, invoice payment links and the ‘Guess’ functionality for bank transaction explanations - which can all be used to automate the process of recording rental income.
We’ll be rolling out a number of additional features to FreeAgent for Landlords over the coming months, including support for the FreeAgent mobile app, improved reporting functionality and support for additional integrations.
How to add landlord clients
You now have the option to select ‘UK Unincorporated Landlord’ from the ‘Client Type’ drop-down menu when you set up a client on FreeAgent.
This new account type offers support for cash basis accounting - a feature we’re also making available to new sole trader and partnership accounts in FreeAgent this week. You can find out more about this in the Knowledge Base.
Want to know more?
Join us on 19th May at 11am for a FreeAgent for Landlords masterclass. In this partner-exclusive webinar, FreeAgent’s Jon Martingale (Group Product Manager) and Tony Stevenson FCA (Digital Enablement Manager) will provide a step-by-step demonstration of the software and discuss our plans to support MTD for ITSA submissions before April 2024.
In the meantime, if you have any questions about FreeAgent for Landlords, please speak to your account manager or visit our dedicated hub here on the Practice Portal.
Free licences for your clients
FreeAgent for Landlords is available free of charge for any clients who have a business current account with NatWest, Royal Bank of Scotland or Ulster Bank NI (for as long as the client retains their bank account, or a Mettle account (as long as the client marks Mettle as their primary business account in the software).