Hi, MGS96. It’s great that you’re looking ahead to the 2026 MTD changes. Please note that MTD For Income Tax is based on the individual, not the business/partnership entity. QuickBooks Sole Trader requires a separate license for each distinct income source to remain compliant with HMRC’s reporting categories. This means you will need two subscriptions in total, your existing one for your sole trader business and one new seat for your property income. The system uses your National Insurance Number to automatically link these two licenses together for your MTD filings.
Regarding your wife, since her 50% share of the rental income is not expected to cross the £50,000 threshold, she's not currently mandated for MTD. She can continue to track her share via her current spreadsheet method for her annual Self Assessment.
You should set up the new seat as Landlord/Property income, not as a partnership, as partnerships are not currently in scope for the MTD For Income Tax rollout. Consequently, you are the only one required to report quarterly at this stage, your wife can continue with her current method unless her income crosses the mandatory threshold in the future.
Please don't hesitate to leave us a response if you have other questions or concerns.
