What records does MTD require?

Under MTD, you must keep digital records of all rental income received, all allowable expenses paid, details of any assets and liabilities related to your rental business, and mileage logs for property-related travel. Records must be maintained in MTD-compatible software, like August. Paper records, spreadsheets, and the HMRC website don't count. August records all of this automatically as you go. Log expenses from your phone, attach receipt photos, connect your bank for automatic transaction imports, and your digital records stay complete for every quarterly update to HMRC.