Your 7 November update is a running total for the tax year so far: everything from 6 April to 5 October, in each income and expense category. It isn't just July to October, and it isn't a tax return. It's a summary your software builds from your digital records and sends to HMRC.
If you joined Making Tax Digital (MTD) for Income Tax in April 2026, this is your second update. The first was due on 7 August. If you missed that one, or signed up late, see below.
What the update covers
With standard update periods, the November update runs from 6 April to 5 October 2026. If you chose calendar update periods (for an accounting year of 1 April to 31 March), it runs from 1 April to 30 September. The deadline is 7 November either way. You can only choose calendar periods before your first update, and you can't change back for the rest of the tax year.
For each property business, the update shows:
- a total for each category used in your records, for the year to date
- nothing about individual items: HMRC doesn't receive your receipts, invoices or agent statements
For UK property, HMRC's quarterly update direction lists the income categories as total rent ("Total rents from property" on the tax return and in our spreadsheet), other income from property, premiums for the grant of a lease, and reverse premiums and inducements. Expenses use the familiar categories from the property pages of the tax return, such as legal, management and other professional fees, and property repairs and maintenance. If your UK property turnover is under £90,000, GOV.UK allows simpler records for residential lets: income or expense, and whether an expense is a restricted finance cost.
You don't need to make accounting or tax adjustments before sending a quarterly update. Those come at the end of the year.
Worked example: an agent-managed flat
A flat lets at £1,000 a month. The tenant pays the agent on the 1st, and the agent charges 10% plus VAT (£120 a month). The landlord uses the cash basis, so rent counts when the agent receives it.
In August the landlord sent the first update, covering 6 April to 5 July: three rents (1 May, 1 June, 1 July) and three management fees. Since then:
- three more rents have come in (1 August, 1 September, 1 October)
- a £250 repair was paid in August
- a £60 inventory fee from June turned up on a statement and was missed in August's update
| Category | Sent in August (to 5 July) | November update (to 5 October) |
|---|---|---|
| Total rents from property | £3,000 | £6,000 |
| Legal, management and other professional fees | £360 | £780 |
| Property repairs and maintenance | £0 | £250 |
The November figures include August's. Fees are £720 for six months plus the £60 that was missed. You don't send a separate correction: GOV.UK says corrections you make to your records are picked up in the next update, because each one covers the tax year so far.
Notice the 1 October rent is in, even though the agent may not pay it out until mid-October. Under the cash basis, rent the agent collects counts when the tenant pays the agent. There's more on that in Gross or net rent for MTD?
If you missed the 7 August update
For the 2026 to 2027 tax year, GOV.UK says HMRC won't give penalty points for late quarterly updates. But you must still send them before you can submit your tax return through software. So the August update (6 April to 5 July) is still owed, and you'll need it as well as November's.
If you signed up partway through the year, GOV.UK says to catch up by creating digital records from the start of the tax year. Because every update starts on 6 April, a late start doesn't mean a shorter November update.
The easement only covers quarterly updates. A late tax return still gets a penalty point this year, and late payment penalties still apply.
If nothing happened this quarter
You still send an update. GOV.UK says that if you had no income or expenses in an update period, you must send one anyway. Your year-to-date totals simply stay the same as last time.
A check before you send
- Do you have every agent statement up to 5 October? A statement dated mid-October often covers rent received in late September or on 1 October. You need it now, not next quarter.
- Does each statement reconcile? Rent minus every deduction should equal what reached your bank. A missing fee or a part-payment usually shows up here.
- Are deposits and floats out of income and expenses? A deposit held for the tenant, or a float the agent keeps back for repairs, isn't rent or an expense.
- Any jointly let property? GOV.UK lets you report only your share of the income from jointly let property in quarterly updates and add those expenses after the year ends. Expenses for property you own outright still go in each update.
After you send it
Your software or HMRC online account can show an estimate of your tax bill for the year so far. It's only an estimate: it won't know about other income you haven't added, such as savings interest.
Sending an update doesn't mean paying tax. GOV.UK says you pay your tax bill as you do now. The rest of the 2026 to 2027 year looks like this:
- 7 February 2027: third update, 6 April to 5 January
- 7 May 2027: fourth update, the whole year to 5 April
- 31 January 2028: tax return and payment
From 2027 to 2028, each missed update deadline gives one penalty point, and 4 points means a £200 penalty.
FAQ
Do I only send July to October? No. Each update covers the whole tax year from 6 April. The November figures include everything you sent in August.
I found a mistake in my August figures. Do I resend August? No. Correct your records and the corrected totals go into the November update.
Can I send it before 7 November? Yes. The period ended on 5 October, so you can send it any time between then and the deadline.
Getting statements ready
If you're behind on agent statements, statement-split can help with the record-keeping step. An AI model reads each line of a letting agent statement (PDF or photo) and labels it, then fixed published rules suggest the HMRC category. It checks the lines add back to your payout, and you check every line before downloading a spreadsheet for your bridging software. It isn't tax, accounting or legal advice, and it doesn't send anything to HMRC. Try one statement free.
Related guides: How to record letting agent statements for MTD · Gross or net rent for MTD?
Sources (checked 19 October 2026)
- GOV.UK: Use Making Tax Digital for Income Tax: send quarterly updates
- GOV.UK: Use Making Tax Digital for Income Tax: create digital records
- GOV.UK: Using Making Tax Digital for Income Tax for the first time
- GOV.UK: Making Tax Digital for Income Tax: quarterly update direction
- GOV.UK: Deadline approaches for first Making Tax Digital quarterly update (23 July 2026)
- HMRC: PIM1094 Cash basis for landlords: receipts and expenses
This isn't tax advice. Check GOV.UK or an accountant for your situation.