Hammock and Intuit QuickBooks offer the end-to-end Making Tax Digital for Income Tax (MTD for IT) solution for accountants and sole traders with property income.
UK property, foreign property and sole-trading income have to be reported separately to HMRC. Hammock and QuickBooks together cover all income streams required for MTD.
The split of income and expenses between joint owners, in line with their percentage of ownership, needs to be managed with the right technology, to avoid time-consuming manual calculations and corrections.
With quarterly reports and an annual Final Declaration, real-time access to clear reports on all income streams is key to MTD compliance.
Understanding and using new software takes time and effort. Landlords and sole traders risk being overwhelmed by adopting too many solutions.
Connect your Hammock and QuickBooks accounts. Then switch between them with just one click.
Hammock is the first landlord software recognised by HMRC as compatible with Making Tax Digital (MTD). Landlords have submitted MTD quarterly updates for jointly owned properties during the pilot phase. A tried-and-tested, reliable solution. Joint owners only need one Hammock licence.
This partnership combines the specialist Hammock property functionality with the leading QuickBooks small business accounting software.
In 2027 the income threshold for MTD will be £30k, in 2028 it will go lower, to £20k. As more and more landlords are enrolled, Hammock and QuickBooks combined will continue to offer the end-to-end solution for all landlords and accountants.
Yes, Hammock is the first landlord software recognised by HMRC. You can find us on the official list of MTD-compatible software here.
Yes, Hammock automatically allocates the right percentage of rental income and expenses to each owner, based on their percentage of ownership.
Hammock can also manage partnerships and limited companies (with multiple shareholders.)
Yes, Hammock works with all tenancies. You can split rental payments and shared expenses and allocate the relevant amounts to the respective tenants.
No training needed. Just sign up and get started now: the first 30 days are free!
If you have any questions, you can always find us (well, Mon – Fri 9am-5pm) at hello@usehammock.com.
