Landlord Accounting for Serviced Accommodation, Buy to Let, and Ltd Companies in Canary Wharf: What You Must Know for 2026

If you own a buy to let flat, run serviced accommodation, or hold property through a limited company in Canary Wharf, the rules changed for 2026. Making Tax Digital for Income Tax becomes mandatory from 6 April 2026 for landlords earning above £50,000, Section 24 still restricts mortgage interest relief for personal landlords, and the Furnished Holiday Lettings regime was abolished from 6 April 2025. The structure you choose, personal name or limited company SPV, now makes a direct difference to your tax bill.

In brief: landlord accounting for serviced accommodation, buy to let, and limited company property covers rental income tax, Section 24 mortgage interest restrictions, Corporation Tax for Ltd and SPV structures, VAT where it applies, and Making Tax Digital compliance for individuals and companies letting residential or short term property in the UK.

What Counts as Serviced Accommodation, Buy to Let, or Ltd Company Property in Canary Wharf?

Buy to let means a residential property let to a long term tenant under an assured shorthold tenancy, owned either personally or through a limited company. Serviced accommodation means a furnished short term letting, often booked through platforms rather than a standard tenancy, and it carries different VAT and business rates considerations than a standard let. A limited company or SPV structure is a company set up specifically to hold and manage property, filing Corporation Tax rather than Self Assessment on rental profit.

Canary Wharf’s mix of high value flats and strong corporate tenant demand means many landlords here run more than one of these structures at once, which makes getting the accounting right from the outset genuinely important.

Why Is 2026 a Pivotal Year for Canary Wharf Landlords?

Three changes land at once. First, Making Tax Digital for Income Tax Self Assessment becomes mandatory from 6 April 2026 for landlords and sole traders with gross income above £50,000, requiring digital records and quarterly HMRC updates, according to HMRC’s Making Tax Digital guidance. Second, the Furnished Holiday Lettings regime was abolished from 6 April 2025, so former FHL owners lose capital allowances and pension-relevant earnings treatment and are now taxed as ordinary landlords. Third, Stamp Duty Land Tax on additional residential purchases, including all limited company purchases, carries a 5 percent surcharge above standard rates, confirmed on the GOV.UK stamp duty rates page.

Missing any of these has a direct cost. Late MTD digital record keeping and late Self Assessment filing both trigger automatic HMRC penalties, and the 31 January 2026 Self Assessment deadline is fixed regardless of when you engage an accountant.

Should You Hold Property Personally or Through a Limited Company SPV?

This is the single most common question we get from Canary Wharf landlords, and the right answer depends on your tax band, mortgage position, and exit plans. Here is how the two structures compare.

Specialist Accounting Tailored to How You Let

What Records Do You Need for Making Tax Digital?

Once MTD ITSA applies to you, HMRC requires digital records of rental income and expenses kept in compatible software, with a quarterly summary submitted every three months and a final declaration after the tax year ends. This replaces the single annual Self Assessment submission most landlords are used to. Spreadsheets alone are not compliant unless linked through bridging software, so most Canary Wharf landlords are moving onto Xero or QuickBooks well ahead of their mandation date rather than waiting for April 2026.

What Are the Key HMRC Deadlines for 2026 and 2027?

The Self Assessment online filing deadline is 31 January 2026, covering the 2024/25 tax year. Limited companies must file accounts with Companies House within nine months of their accounting year end, and Corporation Tax is due nine months and one day after year end. MTD ITSA becomes mandatory for landlords with gross income above £50,000 from 6 April 2026, extending to those above £30,000 from April 2027. If you are considering incorporating a portfolio, plan the transfer well before your accounting year end to give the SDLT and CGT position time to be modelled properly.

Our Accounting Services in Canary Wharf, London

We provide a full range of accounting and tax services for Canary Wharf landlords, including property tax services, SPV limited company accounting, rental accounts preparation, capital gains tax planning, and VAT returns for serviced accommodation operators.

With strong local knowledge, we provide reliable landlord accounting across London, including Essex, Ilford, Wimbledon, and Covent Garden, helping landlords near One Canada Square grow their portfolios with confidence. We serve clients across London and Essex from our Old Street and Loughton offices.

Written by Sharaz Zaman, Founder of GM Professional Accountants, AAT Member with 15+ years London accounting experience.
Updated in July 2026.

Frequently Asked Questions

The Next Self Assessment Deadline Is 31 January 2026

Book a free landlord tax consultation with GM Professional Accountants and get your Canary Wharf portfolio ready for MTD before the rush.