Landlords and sole traders already using Making Tax Digital (MTD) for Income Tax must send their second quarterly update to HMRC by 7 November 2026. The rules will extend to more people from April 2027, so letting agents can help landlord clients prepare now.

Informed by our engagement with member agents operating in Wales, Propertymark has called on the Senedd’s Finance Committee to ensure the 2027–28 Budget addresses the real financial pressures facing property businesses and the wider housing market. We urge the Welsh Government to prioritise practical action that improves the availability and quality of homes, rather than adding costs or regulation that could reduce supply.

Propertymark has urged the Senedd’s Local Government, Housing and Planning Committee to make increasing the supply of homes its top priority. Our response to the Committee’s consultation on its future work programme sets out three priorities: delivering more homes across all tenures, sustaining a well-regulated private rented sector, and promoting professionalism and consumer confidence in property agents.

To reduce the tax burden on the housing market rather than introduce further changes in isolation, we warn the Scottish Government that plans for two new council tax bands risk adding complexity while doing little to increase revenue.

More than 436,000 sole traders and landlords have submitted their first quarterly update under Making Tax Digital for Income Tax. However, HM Revenue and Customs (HMRC) has now begun identifying those who have not yet registered and transferring them to the new system proactively.

Revenue Scotland has refreshed its guidance on how Land and Buildings Transaction Tax (LBTT) applies to leases. The update does not introduce new tax rules but provides a useful reminder that further returns may be required when a lease is reviewed, varied, assigned or ended. By treating LBTT as an ongoing responsibility, rather than a one-off task at the start of a lease, property professionals can support compliance by building tax prompts into their lease processes.

Prime Minister Andy Burnham’s first days in office have brought several announcements and appointments with implications for the property sector. Angela Rayner has returned as Housing Secretary, rent controls have been ruled out for England, targeted business rates support has been announced, and Burnham has confirmed that Stamp Duty will not change at the Autumn Budget.

Sole traders and landlords with qualifying income over £50,000 should now be using Making Tax Digital for Income Tax (MTD), and further deadlines in 2027 and 2028 will bring many more agents, property owners, and businesses into the new system. MTD requires affected taxpayers to keep digital records and submit quarterly updates to HMRC using compatible software.

The UK Government has ended the Furnished Holiday Lettings (FHL) rules. Since 6 April 2025, all holiday lets are taxed in the same way as normal rental income. This applies across the whole UK and affects anyone running a holiday let, Airbnb-style rental, cottage, annexe, or other short-stay property.

Centre for London has called for a Proportional Property Tax as part of a wider plan to tackle London’s housing crisis. The city not only needs more homes, but also a better way to use, fund, and distribute the homes it already has. Although the report focuses on the capital, many of the pressures it identifies are felt across the UK, including a shortage of social housing, high moving costs, a lack of suitable homes for older people, and barriers to new development.

The UK Government has launched a consultation on the design of the surcharge, first announced in the 2025 Autumn Budget, which is expected to apply to homes in England valued at £2 million or more from 2028. If the reforms are to address unfairness in the existing system effectively, property values must be assessed consistently and updated regularly and clearly so consumers can calculate their council tax.

The UK Government has set out further reforms across housing, communities, and local government. Proposals affect leasehold, building safety, social housing, local authority standards, and tourism levies, all of which could impact local housing markets and influence the way councils, owners, agents and residents interact.

With the Senedd election approaching on 7 May 2026, housing remains a critical issue across Wales. All major parties recognise the need to increase supply and improve affordability, but their approaches differ significantly. The next Welsh Government will need to strike a careful balance between raising standards and maintaining investment, particularly in the private rented sector (PRS).

With the Scottish Parliament election approaching on 7 May 2026, all major political parties have set out their housing priorities. The next Scottish Government will need to strike a careful balance between improving standards and maintaining supply. Policies that focus too heavily on regulation risk reducing investment, while those that prioritise supply must still ensure quality and consumer protection.

The Welsh Government has set out plans to change how Houses in Multiple Occupation (HMOs) are treated for council tax, confirming that property owners, not tenants, will remain liable and that properties will be valued as a single dwelling. The move brings greater consistency to the system and aligns Wales more closely with the approach already taken in England.

From 6 April, 125,000 landlords and sole traders in the property sector must use Making Tax Digital (MTD) software, in the biggest change to the Self-Assessment system since 1997. Support is available to those impacted, and HMRC has confirmed that no penalties will be issued for late quarterly updates in the 2026 to 2027 tax year as the system beds in.