Generating Tax Reports

Generating Tax Reports

Latch can generate tax-ready summaries that make year-end reporting straightforward.

Tax Summary Report

1. Go to Reports > Tax Summary.
2. Select the tax year (e.g. 6 April 2025 – 5 April 2026).
3. Choose scope: all properties or specific ones.
4. Click Generate.

Report Contents

Income Section

• Total rent received.
• Other income (tenant recharges, etc.).
• Gross rental income.

Expenses Section

• Expenses grouped by HMRC category.
• Total for each category.
• Grand total of allowable expenses.

Summary

• Taxable Rental Profit — Income minus allowable expenses.
• Finance Costs — Mortgage interest listed separately (due to finance cost restriction).
• Notes — Any items requiring review.

Quarterly Reports

For MTD compliance, generate quarterly summaries:

1. Go to Reports > Tax Summary.
2. Select a quarter instead of full year.
3. Generate and export for submission.

Sharing with Your Accountant

Click Export to generate a PDF or CSV. The CSV format is designed for easy import into accounting software.

Tip: Run the tax summary report at year-end and compare it with your bank statements to catch any missing income or expenses.