Landlord (Residential)

Bookkeeping, VAT, payroll and tax guidance for a landlord (residential) operating in Scotland.

Tailored accounting checklist — Landlord (Residential)

Specific to your business activities, on top of UK fundamentals.

Report rental income on Self Assessment using SA105 (or SA106 for overseas)
Section 24 restricts mortgage interest to a 20% basic-rate tax credit
Track allowable expenses: repairs (not improvements), agent fees, insurance, utilities (if paid)
Keep a property-by-property profit & loss sheet

Accounting points that apply because you trade in Scotland.

Scottish income tax bands and rates apply to non-savings income (set by the Scottish Parliament)
Non-Domestic Rates (business rates) administered by Scottish councils — different reliefs apply
Land and Buildings Transaction Tax (LBTT) replaces Stamp Duty in Scotland

Expand each section for the rules that apply to almost every UK small business.

Operational essentials

Practical setup and compliance steps every UK small business should complete in the first 90 days and review regularly.

Register the business correctly
Choose sole trader or limited company and register with HMRC.
Keep records from day one
Track income, expenses and contracts digitally under MTD.
Separate business and personal spending
Open a dedicated business bank account before trading.
Track income and expenses regularly
Reconcile weekly so nothing slips through the year.
Review VAT and payroll responsibilities
Watch the £90,000 VAT threshold and PAYE duties.
Maintain insurance and licences
Renew before expiry — keep certificates accessible.
Save invoices and receipts digitally
Cloud storage with backups for at least 6 years.
Review deadlines monthly
Diarise VAT, PAYE, Confirmation Statement and Self Assessment.

View legal requirements

Licences, insurance, GDPR & more

Speak to an adviser

Tailored accounting help for your business

Guidance aligned with official UK sources

Last reviewed: May 2026Information updated regularly

This information is general guidance only and does not replace regulated accounting, legal or tax advice.