For many landlords in the UK, managing a statutory periodic tenancy comes with unique challenges. Unlike fixed-term leases, these tenancies roll on automatically, often month by month, and require careful management to ensure accurate rent collection, proper record-keeping, and compliance with HMRC’s Making Tax Digital (MTD) regulations. Even small oversights in income reporting or expense tracking can lead to errors in tax submissions or difficulties in managing arrears. Fortunately, platforms like RentalBux are designed to make this process seamless. Developed by accountants with extensive experience in property management, RentalBux combines automated accounting, tenancy management, and MTD-compliant reporting into a single platform, allowing landlords to focus on their tenants rather than paperwork.
Understanding the Needs of a Statutory Periodic Tenancy
A statutory periodic tenancy arises when a fixed-term tenancy ends but the tenant remains in the property, typically paying rent on a rolling basis—weekly or monthly. While convenient for tenants, landlords must maintain accurate records of payments, arrears, and property-related expenses, all of which feed into annual tax obligations.
Traditional spreadsheets or generic accounting apps often struggle with this. Missed rent entries, miscategorised expenses, and scattered receipts can quickly result in discrepancies. This is why dedicated property management software for landlords, such as RentalBux, is becoming essential.
MTD Compliance and Reporting
With HMRC’s Making Tax Digital, landlords are required to submit income and expense data digitally. RentalBux is fully MTD-compliant, meaning all rent and expense records for a statutory periodic tenancy can be submitted electronically without errors. Bank feeds, automated reconciliations, and property-specific reporting make tax time faster and stress-free.
Conclusion
Managing a statutory periodic tenancy doesn’t have to be complicated. With dedicated software like RentalBux, landlords can automate rent collection, track expenses, and generate accurate, MTD-compliant reports with minimal effort. By adopting such tools, landlords not only ensure compliance with HMRC but also gain the insights and automation necessary to efficiently manage their properties.
