I've been using Quickbooks for my sole trader business for some years now, and it works well for that side of record-keeping, especially my payroll and Tax Returns.
My wife and I also derive income from property rental, which is split 50-50, but we do not have a formal partnership. I have previously been able to track this using a spreadsheet of rental income and allowable expenses.
My combined income is around the threshold for 2025-26 (and should be comfortably above for 2026-27). However, my wife's rental income is not expected to cross this threshold.
Do I need one additional seat of Quickbooks for the property "partnership" income, or two? Should I be setting up the additional seat as a sole trader for my MTD declarations, or as a partnership? If the latter, will quarterly MTD declarations be made for both of us, or only those who qualify (ie: at present, me)?
Many thanks.
