Simon and Stuart explore what Open Banking is and how it can help landlords, including looking into the future of Making Tax Digital.
The discussion this week includes:
* What is Open Banking?
* An example Open Banking setup process.
* Xero (https://www.xero.com/uk/).
* How landlords can benefit from Open Banking.
* Simpler record keeping and rent tracking with the PaTMa (https://www.patma.co.uk/property-manager/) Open Banking support.
* Making Tax Digital is coming for landlords from April 2024.
* Using PaTMa (https://www.patma.co.uk/property-manager/), or standard accounting software, to simplify property bookeeping and ease MTD submissions.
* Spreadsheets won't cut it in the Making Tax Digital world.
* Kicking and screaming during the transition.
* A smarter, easier world (process) for landlords in the end.
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This podcast is produced in association with PaTMa (https://www.patma.co.uk/), the leading application for self managing landlords who want to save time and stay compliant. Easily track properties, tenancies, tenants, repairs, rent, mortgage payments and safety certificates. Start a FREE trial today (https://www.patma.co.uk/).
