RentalBux vs. Lloyd's Bank
Which MTD Software Is Right For UK Landlords and Sole Traders?
Overall Winner: RentalBux
RentalBux is the more complete MTD software for UK landlords and sole traders. It combines full HMRC recognition across all three qualifying income types — UK property income, foreign property income, and self-employment income — with integrated property management, automated bookkeeping, AI-powered expense categorisation, joint ownership profit-splitting, and a free plan for single-property landlords until March 2028. No bank account required.
At-a-Glance MTD Software Comparison
Key differences between RentalBux and Lloyd's Bank across MTD compliance, property management, bookkeeping, pricing, and landlord-specific features.
| Feature | RentalBux | Lloyd's Bank |
|---|---|---|
| Software Type | Property/Landlord Platform | Bank-embedded MTD tool |
| Target Users | Landlords, Sole Traders, Letting Agents | Lloyds Business Account holders (sole traders, landlords) |
| Income Sources Supported | Sole Trader + UK Property + Foreign Property | Sole trader + UK property (foreign property not confirmed) |
| Free MTD Software Plan | Free until March 2028 (1 property) | Free if you hold a Lloyds Business Account (£8.50/month after year 1) |
| MTD Quarterly Updates to HMRC | Yes | Yes |
| Final Declaration | Yes | Yes |
| Bank Reconciliation | Yes | Yes |
| Automated Bank Feeds | Yes | Yes |
| Invoice Creation | Yes | No |
| Receipt Capture (OCR) | Yes | Yes |
| Expense Auto-Categorisation | Coming soon | No |
| Property Portfolio Management | Yes | No |
| Tenant Management | Yes | No |
| Joint Ownership & Profit Sharing | Yes | No |
| Payroll | No | No |
| HMO Unit-Level Tracking | Yes | No |
| HMRC SA105 Box Pre-Mapping | Yes | No |
| Spreadsheet Import/Export | Yes | No |
| Platform | Web, iOS, Android | Web, Android, iOS |
| GDPR Compliant | Yes | Yes |
What is RentalBux? What is Lloyd's Bank?
What Is RentalBux?
All-in-One MTD Software for Landlords and Sole Traders
RentalBux is an all-in-one property management, accounting, and Making Tax Digital compliance platform built specifically for UK landlords, letting agents, and self-employed individuals. Designed with direct input from accountants who specialise in property and sole trader tax, RentalBux covers everything from tenancy management and rent collection to full bookkeeping with a pre-configured chart of accounts tailored to the property sector.
RentalBux is fully HMRC-recognised for Making Tax Digital for Income Tax across all three qualifying income categories: UK property income, foreign property income, and self-employment. This makes it one of the only landlord-specific MTD software platforms that can handle a landlord who also runs a sole trader business, all from a single subscription.
A major differentiator is RentalBux's pricing model: single-property landlords can use the platform completely free until March 2028, making it one of the most affordable HMRC-approved MTD software options for landlords entering the MTD regime.
What Is Lloyd's Bank?
Making Tax Digital for Income Tax Software
Lloyds Bank's MTD tool was launched in May 2026, powered by BankiFi's technology platform and integrated directly into the Lloyds Business Account available within online banking and the Lloyds Business Banking mobile app. It is free for Lloyds Business Account holders, with the Business Account itself costing £8.50/month after the first 12 months.
The tool is HMRC-recognised and enables sole traders and landlords who bank with Lloyds to manage their MTD obligations without opening a separate accounting software subscription. Income and expense information is automatically pulled through from the Lloyds account, users categorise transactions and snap photos of receipts, and the tool sends quarterly updates to HMRC and provides estimated tax views. End-of-year filing (the Final Declaration) is also stated as a feature. The tool was built to help Lloyds' one million-plus business customers transition from spreadsheet-based approaches to a fully digital accounting solution linked to their bank account. It does not offer property management, tenant tracking, joint ownership automation, or a dedicated accountant portal.
Strengths
- Free MTD software for single-property landlords until March 2028
- Handles sole trader + UK property + foreign property income in one platform
- Joint ownership with automatic profit-sharing split by ownership percentage
- Pre-built chart of accounts tailored for landlords and sole traders
- AI-powered expense auto-categorisation and OCR receipt capture
- Agent filing on behalf of landlords — ideal for accountants and letting agents
- Supports HMO properties with auto-created units
Strengths
- Free for Lloyds Business Account holders — no extra subscription
- Seamless integration with Lloyds account — transactions auto-imported
- HMRC-recognised MTD tool built on BankiFi's technology
- Receipt capture (photo) in the banking app
- Estimated tax view to help plan ahead
- Quarterly updates and Final Declaration supported
- Available within familiar Lloyds online banking and app
- Backed by Lloyds Bank plc — FCA authorised, PRA regulated
Limitations
- Newer to market compared to established platforms
- No yield or LTV investment analysis tools
- No MTD for VAT support yet
- Some advanced reporting features still in development
- Limited third-party app integrations
- No offline capability
- No tax liability forecasting feature currently
Limitations
- Exclusively tied to Lloyds Business Account — not available to others
- Business Account costs £8.50/month after 12-month free period
- No property portfolio management or tenant tracking
- No joint ownership or profit-sharing automation
- Foreign property income support not confirmed
- No landlord-specific chart of accounts or HMRC box pre-mapping
- No agent filing or dedicated accountant portal
- Only pulls transactions from Lloyds account — not open banking
- No per-property financial reporting
- Not available as standalone software — requires switching banks
Making Tax Digital Compliance
How RentalBux Handles MTD Compliance
RentalBux supports all three MTD qualifying income categories: sole trader income, UK property income, and foreign property income. This makes it suitable for landlords who also earn self-employment income, eliminating the need for separate software. Most accounts are pre-mapped to HMRC Self-Assessment boxes. RentalBux also supports agent filing, allowing accountants or letting agents to submit MTD returns on behalf of their landlord clients.
How Lloyds Bank's MTD Tool Handles Compliance for Landlords and Sole Traders
Lloyds Bank's MTD tool is HMRC-recognised and handles quarterly updates and end-of-year filing (Final Declaration) for Lloyds Business Account holders. Income and expense data flows automatically from the Lloyds bank account, removing the need for manual data entry. The tool provides estimated tax views to help users understand their likely liability before submission. It supports sole trader and UK property income. Foreign property income is not confirmed on Lloyds' published product pages. The tool does not support agent filing. It is a customer-facing banking feature, not an accountant-facing filing platform.
| Feature | RentalBux | Lloyd's Bank |
|---|---|---|
| HMRC Recognised (MTD ITSA) | Yes | Yes |
| MTD Quarterly Updates | Yes | Yes |
| Final Declaration | Yes | Yes |
| Digital Record Keeping | Yes | Yes |
| Digital Links Compliant | Yes | Yes |
| Sole Trader Income | Yes | Yes |
| UK Property Income | Yes | Yes |
| Foreign Property Income | Yes | No |
| Multiple Income Streams | Yes | No |
| Agent Filing on Behalf | Yes | No |
Winner: RentalBux for complete and bank-agnostic MTD compliance. Both platforms are HMRC-recognised and cover quarterly updates and the Final Declaration. RentalBux wins on confirmed foreign property income support, agent filing, full multi-income stream handling, and independence from any specific bank.
Property Management
RentalBux: Property Management
RentalBux provides comprehensive property portfolio management with tenant management, rent tracking, property expense allocation, and support for multiple properties. A standout feature is its joint ownership and profit-sharing capability: landlords can define ownership percentages once, and RentalBux automatically splits rental income and expenses. RentalBux also supports HMO properties, automatically creating individual units.
Lloyds Bank MTD tool: No Property-Specific Features
The Lloyds Bank MTD tool has no property management features. It is a tax compliance and banking tool and landlords using it manage their properties entirely outside the system. There is no property portfolio dashboard, no tenant management, no rent tracking, no per-property expense allocation, no joint ownership automation, and no HMO support.
| Feature | RentalBux | Lloyd's Bank |
|---|---|---|
| Property Portfolio Management | Yes | No |
| Tenant Management | Yes | No |
| Rent Tracking | Yes | No |
| Property Expense Allocation | Yes | No |
| Multiple Property Support | Yes | No |
| HMO Property Support | Yes (auto-creates units) | No |
| Joint Ownership/Profit Sharing | Yes (auto-split by %) | No |
| Maintenance Tracking | No | No |
| Tenant Screening | No | No |
| Compliance Document Alerts | Yes | No |
| Arrears Tracking | No | No |
Winner: RentalBux. The Lloyds Bank MTD tool is a tax compliance feature within a banking app — it is not a property management platform. Any landlord with multiple properties, tenancies to track, or joint ownership arrangements will find it entirely unsuited to their property management needs.
Bookkeeping, Accounting & Digital Record Keeping
RentalBux: Structured Accounting
RentalBux includes a pre-built chart of accounts specifically designed for landlords and sole traders, covering rental income, mortgage interest, insurance, property repairs, professional services, utilities, and tenant deposits. All accounts are pre-mapped to HMRC Self-Assessment boxes. The platform supports cash basis accounting, bank reconciliation, and journal entries.
Lloyds Bank MTD Tool: Transaction-Based Digital Records, Not A Full Accounting System
The Lloyds MTD tool automatically imports transactions from the Lloyds Business Account and allows users to categorise income and expenses. This satisfies HMRC's digital record-keeping requirement for transactions going through the Lloyds account. However, it is not a full accounting system: there is no chart of accounts, no journal entries, no double-entry bookkeeping, no profit and loss report, and no balance sheet. Landlords who receive rental income into a non-Lloyds account, or who use cash for some expenses, would need to manage those records separately.
| Feature | RentalBux | Lloyd's Bank |
|---|---|---|
| Cash Basis Accounting | Yes | No |
| Chart of Accounts (Pre-built, Landlord-Tailored) | Yes (pre-built + custom) | No |
| Journal Entries | Yes | No |
| Bank Reconciliation | Yes | Yes |
| Automated Bank Feeds | Yes (Major UK banks) | Yes |
| Open Banking Integration | Yes | No |
| Double-Entry Bookkeeping | Yes | No |
| HMRC Box Pre-Mapping | Yes | No |
| Xero Integration | No | No |
| Spreadsheet Import/Export | Yes | No |
| Digital Record Storage | Yes | Yes |
Winner: RentalBux for landlord accounting. RentalBux provides the complete accounting infrastructure HMRC requires, structured around property income. The Lloyds tool offers genuine convenience for transactions flowing through the Lloyds account but it is not a substitute for a full accounting system, and landlords with income or expenses outside that account must manage those records elsewhere.
Invoicing, Expense Tracking
RentalBux: Expense Management
RentalBux includes OCR receipt capture, structured expense tracking with landlord-specific categories, auto-categorisation, invoice creation with customisable branding, and payment tracking with reminders.
Lloyds Bank MTD Tool: Receipt Photo Capture and In-App Categorisation
The Lloyds MTD tool allows users to snap a photo to save receipts and categorise income and expenses as they spend within the app. The categorisation approach is general rather than landlord-specific. There are no property-sector expense categories, no Section 24 handling, and no AI auto-categorisation. Invoice creation is not part of the MTD tool (Lloyds Bank's separate Business Finance Assistant product covers some invoicing functionality).
| Feature | RentalBux | Lloyd's Bank |
|---|---|---|
| Invoice Creation & Sending | Yes | No |
| Invoice Customisation/Branding | Yes | No |
| Online Payment Collection | Yes | No |
| Payment Tracking/Reminders | Yes | No |
| Expense Tracking | Yes | Partial |
| Receipt Capture (OCR/Photo) | Yes | Yes |
| Expense Categorisation | Yes | Yes |
| Automated Transaction Matching | Yes | No |
| Mileage Tracking | No | No |
| AI Auto-Categorisation | Coming soon | No |
Winner: RentalBux for landlord expense management. Both platforms allow receipt photo capture, but RentalBux adds AI-powered categorisation which is in development currently, landlord-specific expense categories, Section 24 handling, and invoicing. The Lloyds tool's categorisation is general-purpose and requires manual input.
Reporting & Tax Forecasting
RentalBux: Formal Accounting Reports
RentalBux produces structured financial reports including profit & loss statements, balance sheets, journal reports, ledger reports, and trial balances. Smart categorisation helps ensure accuracy.
Lloyds Bank MTD Tool: Estimated Tax View — A Standout Feature
| Feature | RentalBux | Lloyd's Bank |
|---|---|---|
| Profit & Loss Report | Yes (formal) | No |
| Balance Sheet | Yes | No |
| Trial Balance | Yes | No |
| Dashboard/Overview | Yes | No |
| Real-Time Financial Data | Yes | Yes |
| Cash Flow Reporting | No | No |
| Tax Estimate/Forecast | Yes | Yes |
| AI-Powered Features | Coming soon | No |
Winner: RentalBux for accounting reports; Lloyds for estimated tax view. RentalBux provides formal reports landlords can use year-round and share with their accountant. Lloyds wins on the estimated tax view.
Collaboration & Mobile Apps
RentalBux's Collaborative Features
RentalBux enables agent filing, which gives accountants and letting agents the ability to submit directly on a landlord's behalf.
Lloyds Bank MTD Tool: Within The Lloyds Business Banking App
The Lloyds MTD tool is accessible via the Lloyds Business Banking mobile app and online banking. The app itself is well-established and full-featured for banking purposes. However, the MTD tool within it does not offer an accountant portal, agent filing, or multi-user access in the way that specialist MTD software does. Lloyds Bank plc's wider customer support infrastructure covers phone, in-branch, and digital support significantly more extensive than most standalone software providers. However, this support covers banking queries rather than specialist MTD tax queries.
| Feature | RentalBux | Lloyd's Bank |
|---|---|---|
| Accountant/Advisor Portal | Yes | No |
| Multi-User Access | Yes | No |
| Agent Filing on Behalf | Yes | No |
| Bank Integration | Yes | No |
| Platform | iOS, Android | Web, Android, iOS |
| Web Browser Access | Yes | Yes |
| FCA Regulated | Yes | Yes |
| GDPR Compliant | Yes | Yes |
Winner: RentalBux for accountant collaboration. RentalBux wins on the accountant portal and agent filing which is essential for practices managing landlord clients.
Ease of Use, Support & Security
RentalBux: Guided Workflows
RentalBux uses guided workflows, clear dashboards, and no accounting jargon. The platform offers phone support, email/chat support, and a help centre with guides and knowledge base articles.
Lloyds Bank's Ease of Use
The Lloyds Bank MTD tool benefits from the simplicity of being embedded in a banking app the user already knows. The automatic transaction import removes a significant manual step. Lloyds Bank plc provides extensive customer support infrastructure: phone, in-app, online, and branches — though this covers the wider banking relationship rather than specialist MTD or property tax queries. Lloyds Bank plc is authorised by the PRA, regulated by the FCA and PRA, and is one of the UK's most established financial institutions.
| Feature | RentalBux | Lloyd's Bank |
|---|---|---|
| Phone Support | Yes | Yes |
| Chat Support | Yes | Yes |
| Email Support | Yes | Yes |
| Help Centre/Knowledge Base | Yes | Yes |
| FCA Regulated | Yes | Yes |
| Enterprise-Grade Security | Yes | Yes |
RentalBux Features
Sole Trader Income Support for MTD
RentalBux is one of the few landlord-focused MTD software platforms that supports self-employment income alongside UK and foreign property income within a single account. Landlords who also run a trade, consultancy, or freelance business can manage all quarterly submissions from one dashboard. Landlord Studio covers property income only.
Custom Chart of Accounts for Landlords
A property-tailored chart of accounts covering rental income, mortgage interest, insurance, repairs, utilities, letting agent fees, and more — all pre-mapped to HMRC Self-Assessment boxes. No setup required; the system is ready to use from day one. Landlord Studio has no equivalent.
Agent Filing on Behalf of Landlords
Letting agents and accountants can submit MTD quarterly updates and the Final Declaration on behalf of landlord clients directly from the platform. Landlord Studio allows accountant access but does not support submission on the landlord's behalf.
Branded Invoice Creation
Invoice creation with customisable branding for service charges and commercial landlords. Not available in Landlord Studio.
AI-Powered OCR Receipt Capture with Auto-Categorisation (Coming soon)
RentalBux's AI will read uploaded receipts and categorise the expense automatically against the pre-built chart of accounts. Landlord Studio's Smart Scan extracts dates and amounts but does not include AI-driven expense categorisation.
Formal Accounting Reports
Balance sheet, trial balance, ledger reports, and journal reports. Landlord Studio does not produce these natively.
Free Plan Including MTD Submissions Until March 2028
RentalBux's free single-property plan includes MTD quarterly submissions. Landlord Studio's free GO plan covers property management for up to three units but requires a paid PRO plan (from £12/month) to access MTD submission functionality.
Unique Features only Lloyds Bank MTD Offers
Seamless automatic transaction import — no setup required
For Lloyds Business Account holders, income and expense information is automatically pulled through from the account into the MTD tool, no bank feed setup, no open banking authorisation to configure, no manual import. Transactions appear ready to categorise.
Estimated tax view — live in the banking app
The Lloyds tool provides up-to-date estimated tax views based on categorised account transactions accessible at any time within the banking app. This helps landlords and sole traders understand their likely tax bill without waiting for year-end.
Available within existing Lloyds online banking and app — no new product to learn
For existing Lloyds Business Account holders, the MTD tool is accessible directly within the banking interface they already use daily. There is no new product to install, no separate login, and no migration of records. This is a meaningful convenience for sole traders and simple-portfolio landlords who want to manage everything in one place.
Backed by Lloyds Bank plc — PRA regulated, FSCS protected
Lloyds Bank plc is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and PRA. Business account deposits are protected by the Financial Services Compensation Scheme (FSCS) up to £85,000 per depositor.
In-branch support — one of the UK's largest branch networks
Lloyds operates one of the UK's largest branch networks, offering face-to-face support for Business Account holders. RentalBux offers phone, email, and chat support but no physical locations.
No separate software subscription — included with the Business Account
For landlords who already hold or plan to open a Lloyds Business Account, the MTD tool adds no extra cost. RentalBux's free plan covers one property until March 2028, after which paid plans apply.
Who Should Choose RentalBux?
RentalBux is a strong fit if you:
Landlords with Mixed Income Streams
If you earn from both property and self-employment, RentalBux handles sole trader income alongside UK and foreign property income in a single MTD-compliant platform.
Joint Owners and Family Portfolios
The automated profit-sharing split is a standout feature. Define ownership percentages once and RentalBux calculates each owner's share automatically.
Budget-Conscious Landlords Entering MTD
Free MTD software for single-property landlords until March 2028, with no upfront commitment.
Landlords Who Want Proper Accounting Structure
Chart of accounts, journal entries, profit & loss, balance sheet, and trial balance give RentalBux a structured accounting foundation.
Accountants and Letting Agents
Agent filing on behalf, multi-user access, and spreadsheet import make RentalBux practical for professionals managing multiple landlord portfolios.
Commercial Landlords and HMO Owners
Invoice creation with branding for service charges, plus automatic HMO unit creation and tenant management.
Who Should Choose Lloyds Bank MTD?
Lloyds Bank is the better choice for:
Existing Lloyds Business Account holders with simple finances
f you already bank with Lloyds for your sole trader or landlord business, have straightforward UK property or self-employment income, and want to meet your MTD obligations without opening another software subscription. The Lloyds tool is a genuinely convenient, zero-extra-cost option. You get automatic transaction import, receipt capture, quarterly submissions, and an estimated tax view, all within your existing banking app.
Sole traders new to digital record keeping who want guided simplicity
The Lloyds tool is designed to be accessible to business owners unfamiliar with accounting software. The automatic bank feed removes the most burdensome manual step, and the estimated tax view helps with forward planning. For sole traders with one income stream and no property complexity, this may be all they need.
Landlords who prioritise institutional trust and in-person support
Lloyds Bank plc's regulatory standing: PRA and FCA regulated, FSCS protected, branch network provides a level of institutional backing that specialist software cannot match. For landlords who value face-to-face support or who want their banking and tax compliance under one roof with one provider, the Lloyds tool has a distinct appeal.
Simple single-property landlords who want zero additional cost
A single-property landlord with a Lloyds Business Account, straightforward UK rental income, and no joint ownership or foreign property has a limited MTD footprint. If they already bank with Lloyds, the MTD tool meets their quarterly obligations at no extra cost and with minimal setup.