RentalBux vs. Monzo Business
Which MTD Software Is Better for UK Landlords and Sole Traders?
Overall Winner: RentalBux
RentalBux is the more complete MTD software for landlords and sole traders. It combines full Making Tax Digital compliance across UK property income, foreign property income, and self-employment income with comprehensive property management, automated bookkeeping, AI-driven expense categorisation, joint ownership profit-splitting, and a free plan for single-property landlords until March 2028 — all within a dedicated property and accounting platform. Monzo Business is a strong, legitimate MTD option for sole traders and straightforward landlords who want the simplest possible tax filing experience, directly from their business bank account at no extra cost. However, its in-bank tax tool is positioned for simplicity over depth — it carries no property management features, no landlord-specific accounting structure, and is openly described by Monzo as suited for straightforward tax needs. Landlords with complex portfolios, mixed income, or joint ownership requirements will outgrow it quickly.
At-a-Glance MTD Software Comparison
Key differences between RentalBux and Monzo across MTD compliance, property management, bookkeeping, pricing, and landlord-specific features.
| Feature | RentalBux | Monzo |
|---|---|---|
| Software Type | Property/Landlord Platform | Business Bank Account with Built-In MTD Tax Tool |
| Target Users | Landlords, Sole Traders, Letting Agents | Sole Traders, Landlords (UK-based only) |
| 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 on all plans (Lite, Pro, Team) — requires Monzo Business account |
| MTD Quarterly Updates to HMRC | Yes | Yes |
| Final Declaration | Yes | Yes |
| Bank Reconciliation | Yes | Partial |
| Automated Bank Feeds | Yes | Yes |
| Invoice Creation | Yes | Yes |
| Receipt Capture (OCR) | Yes | Partial |
| Expense Auto-Categorisation | Coming soon | Yes |
| 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 | Yes |
| Platform | Web, iOS, Android | iOS, Android app; web dashboard |
| GDPR Compliant | Yes | Yes |
What Is RentalBux? What Is Monzo?
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 Monzo?
Monzo Business is a UK digital business bank account serving over 800,000 business customers, consistently rated as one of the UK's best business banking providers — named Best Business Banking Provider at the British Bank Awards 2024. In January 2026, Monzo launched a free, HMRC-recognised MTD tax filing tool built directly into its banking app, in partnership with Sage. The tool uses Sage Embedded Services technology to bring quarterly MTD submission and the final declaration directly into the Monzo app — meaning landlords and sole traders can file tax straight from their bank account to HMRC, with no separate software purchase needed.
The MTD tax tool is available free on all Monzo Business plans, including the free Lite tier. It works by pulling transactions that users have already categorised within the Monzo app and submitting summary quarterly updates to HMRC. Supporting features built into the banking app — including transaction categorisation, receipt attachment, MTD deadline reminders, in-app explainers, and a tax timeline — help users prepare their records throughout the year. A Tax Pot feature (on Pro and Team plans) automatically sets aside a user-defined percentage of income into a dedicated pot for tax, preventing surprise year-end bills.
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
- HMRC-recognised MTD tax tool — free on all plans, including the free Lite account
- No extra software or cost — tax filing built into everyday banking
- Powered by Sage — trusted accounting engine behind a consumer-friendly interface
- Transaction categorisation, receipt attachment, and deadline reminders in-app
- Tax Pot: automatically set aside money for tax as income arrives (Pro/Team plans)
- Accounting integrations with Xero, QuickBooks, FreeAgent, and Sage (Pro/Team)
- Invoicing and payment tools built into the app (Pro/Team)
- Named Best Business Banking Provider (British Bank Awards 2024)
- FSCS protection up to £120,000
- 24/7 in-app and phone support
- Over 800,000 business customers; mobile-first, well-regarded app
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
- Requires a Monzo Business bank account — the MTD tool is not standalone software
- Designed for straightforward tax needs; complex landlord requirements may exceed its scope
- No property portfolio management, tenancy tracking, or rent collection features
- No landlord-specific chart of accounts, journal entries, or formal P&L reports
- Tax Pot is a Pro/Team feature only — requires paid plan from £9/month
- No automated joint ownership profit-splitting
- Only available to sole traders and limited company directors — not partnerships or LLPs
- Foreign property income support not explicitly confirmed in the MTD tax tool
- No double-entry bookkeeping, trial balance, or balance sheet
- Accountants in AccountingWEB discussions have raised concerns about depth of coverage for complex scenarios (e.g. subcontractors, gross income vs. net bank transactions)
- No agent filing confirmed for the tax tool (accountant can assist, but separate from the built-in tool flow)
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 Monzo Business Handles MTD Compliance
Monzo's MTD tax tool, powered by Sage Embedded Services, supports HMRC-recognised quarterly updates and the final declaration, both submitted directly from within the Monzo app. The product is described as designed for sole traders and landlords, and Monzo's own guidance confirms that qualifying income includes both sole trader and property rental income for threshold purposes. The tool works by leveraging transactions that users have already recorded and categorised in their Monzo account, removing the need to re-enter figures into a separate system.
Monzo allows users to set up separate sub-accounts for different income streams — up to three in total — which can help landlords and sole traders track their income sources distinctly within the same account. The tool includes clear in-app explainers, a tax timeline, quarterly deadline reminders, and the ability for an accountant to carry out MTD obligations on the user's behalf. Monzo does not provide detailed confirmation that its tool covers foreign property income specifically.
| Feature | RentalBux | Monzo |
|---|---|---|
| HMRC Recognised (MTD ITSA) | Yes | Yes |
| MTD Quarterly Updates | Yes | Yes |
| Final Declaration | Yes | Yes |
| Digital Record Keeping | Yes | Yes |
| Digital Links Compliant | Yes | Partial |
| Sole Trader Income | Yes | Yes |
| UK Property Income | Yes | Yes |
| Foreign Property Income | Yes | Not explicitly confirmed |
| Multiple Income Streams | Yes | Yes |
| Agent Filing on Behalf | Yes | Yes |
Winner: RentalBux on depth; Monzo on simplicity — Both platforms are HMRC-recognised. RentalBux confirms all three income categories including foreign property and provides structured accounting. Monzo wins on ease of use and the zero-friction in-bank experience for straightforward cases, but carries material limitations for complex landlord scenarios.
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.
Monzo Business: No Property Management Features
Monzo Business has no property portfolio management, tenant management, rent tracking, compliance document alerts, or HMO-specific features. These are banking and tax tools, not landlord management tools. Landlords using Monzo as their MTD solution must manage all property administration — tenancy agreements, rent collection, maintenance tracking, compliance certificates — entirely outside the app. There is no joint ownership splitting capability; landlords with jointly owned properties would need to manage their individual share of income and expenses manually within their own Monzo account.
| Feature | RentalBux | Monzo |
|---|---|---|
| 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 — by a significant margin Monzo Business has no property management functionality whatsoever. Landlords who need tenancy tracking, rent management, multi-property accounting, HMO support, or joint ownership automation must use RentalBux or a separate property management tool alongside Monzo.
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.
Monzo Business: In-Bank Transaction Recording
Monzo's digital record keeping is inherently banking-based: all transactions through the Monzo account are automatically captured and stored digitally, satisfying the MTD requirement to hold digital records. Users categorise transactions as they arrive in the app. However, Monzo does not offer a chart of accounts, journal entries, double-entry bookkeeping, or formal accounting reports. It connects to external accounting software (Xero, QuickBooks, FreeAgent, Sage) on Pro and Team plans, which is how users access more structured bookkeeping and reporting. The accounting depth sits in those third-party tools, not in Monzo itself. Monzo explicitly operates in GBP only — there is no multi-currency support.
| Feature | RentalBux | Monzo |
|---|---|---|
| Cash Basis Accounting | Yes | Yes |
| Chart of Accounts (Pre-built, Landlord-Tailored) | Yes (pre-built + custom) | No |
| Journal Entries | Yes | No |
| Bank Reconciliation | Yes | Partial |
| Automated Bank Feeds | Yes (Major UK banks) | Yes |
| Open Banking Integration | Yes | Yes |
| Double-Entry Bookkeeping | Yes | No |
| HMRC Box Pre-Mapping | Yes | No |
| Xero Integration | No | Yes |
| Spreadsheet Import/Export | Yes | No |
| Digital Record Storage | Yes | Partial |
Winner: RentalBux — RentalBux provides a full accounting framework with a landlord-tailored chart of accounts, double-entry bookkeeping, journal entries, and formal reports. Monzo's accounting depth depends entirely on third-party integrations. For landlords who want structured financial records without also subscribing to Xero or QuickBooks, RentalBux is the self-contained choice.
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.
Monzo Business: In-App Categorisation, Receipts, and Tax Pot
Monzo's expense management is simple and effective for most sole traders: transactions are categorised as they arrive in the app, receipts can be attached to any transaction, and VAT details can be added. Invoicing — including customisable invoices with payment links and QR codes — is available on Pro and Team plans (from £9/month). A standout feature is the Tax Pot: on Pro and Team plans, Monzo automatically transfers a user-defined percentage of every payment received into a dedicated pot reserved for tax. This prevents under-saving for tax throughout the year and is a genuine, practical advantage that RentalBux does not currently match.
| Feature | RentalBux | Monzo |
|---|---|---|
| Invoice Creation & Sending | Yes | Yes |
| Invoice Customisation/Branding | Yes | Yes |
| Online Payment Collection | Yes | Yes |
| Payment Tracking/Reminders | Yes | Yes |
| Expense Tracking | Yes | Yes |
| Receipt Capture (OCR/Photo) | Yes | Yes |
| Expense Categorisation | Yes | Yes |
| Automated Transaction Matching | Yes | Partial |
| Mileage Tracking | No | No |
| AI Auto-Categorisation | Coming soon | No |
Winner: Tie — different strengths RentalBux wins on AI categorisation, landlord-specific expense categories, and invoice flexibility. Monzo wins on the Tax Pot — its automatic tax savings feature is practical and genuinely valuable for landlords who struggle to set aside tax throughout the year, and is not matched by RentalBux.
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.
Monzo Business: Spending Insights and Cash Flow Dashboard
Monzo provides Insights — a real-time dashboard showing income, expenses, and a monthly cash flow report. This gives sole traders and landlords a live view of their business financial position based on transactions flowing through the account. However, Monzo does not produce formal accounting reports such as P&L statements, balance sheets, or trial balances within the app itself — these require connection to an external accounting tool like Xero. There is no dedicated tax forecasting feature, though the Tax Pot functions as a practical tax-saving proxy.
| Feature | RentalBux | Monzo |
|---|---|---|
| Profit & Loss Report | Yes (formal) | No |
| Balance Sheet | Yes | No |
| Trial Balance | Yes | No |
| Dashboard/Overview | Yes | Yes |
| Real-Time Financial Data | Yes | Yes |
| Cash Flow Reporting | No | Yes |
| Tax Estimate/Forecast | Yes | No |
| AI-Powered Features | Coming soon | No |
Winner: RentalBux on formal reports; Monzo on live cash flow RentalBux leads on formal accounting reports directly accessible to the landlord. Monzo's monthly cash flow report and real-time Insights dashboard are useful for day-to-day financial visibility, but do not replace structured accounting statements.
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.
Monzo Business: Team Plan and In-App Banking
The Monzo Team plan (£25/month) provides multi-user access for up to 15 team members in a limited company (or up to 3 for a sole trader), expense cards with individual spending limits, bulk payments, and payment approval workflows. Each team member can see their own spending while the account owner retains full visibility. Pro and Team plans allow accountants to be connected via accounting software integrations (Xero, FreeAgent, Sage, QuickBooks). There is no dedicated accountant portal within Monzo itself, but the accounting integrations provide real-time data access for advisors. Monzo's MTD tool supports agent filing, allowing accountants to submit quarterly updates on behalf of their clients.
| Feature | RentalBux | Monzo |
|---|---|---|
| Accountant/Advisor Portal | Yes | Yes |
| Multi-User Access | Yes | Yes |
| Agent Filing on Behalf | Yes | Yes |
| Bank Integration | Yes | Yes |
| Platform | iOS, Android | iOS, Android |
| Web Browser Access | Yes | Yes |
| FCA Regulated | Yes | Yes |
| GDPR Compliant | Yes | Yes |
Winner: RentalBux for accountant collaboration; Monzo for consumer banking features RentalBux wins for structured agent filing, property management, and multi-user access. Monzo wins on banking features including FSCS protection, 24/7 support, and deep accounting software integrations on paid plans.
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.
Monzo Business: Ease of Use and Support
Monzo is widely regarded as one of the UK's most user-friendly banking apps — intuitive, mobile-first, and designed for people who are not accountants. Its MTD tool follows the same design philosophy: simple, tap-based flows for categorising transactions, attaching receipts, and submitting quarterly updates. Monzo offers 24/7 in-app support and telephone support, and has maintained a strong reputation for customer service as one of the UK's most recommended business banking providers.
| Feature | RentalBux | Monzo |
|---|---|---|
| Phone Support | Yes | Yes |
| Chat Support | Yes | Yes |
| Email Support | Yes | No |
| 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 Monzo Business Offers
Tax Pot — Automated Tax Savings Built Into Banking
Monzo's Tax Pot (Pro and Team plans) automatically moves a user-defined percentage of every payment received into a dedicated savings pot within the account, so tax money is set aside as income arrives. This is one of Monzo's most practical features.
In-Bank MTD — No Separate Software Needed
The MTD tax tool is built directly into the Monzo Business bank account. Transactions recorded in the bank are the same transactions used for MTD quarterly submissions — there is no separate tool to learn, log into, or pay for.
Accounting Software Integrations (Pro/Team)
On paid plans, Monzo connects to Xero, QuickBooks, FreeAgent, and Sage, automatically syncing all bank transactions to the accounting software in real time. For sole traders and landlords who use one of these tools, the Monzo integration removes the need to import bank statements manually.
FSCS Protection Up to £120,000
As a fully licensed UK bank, Monzo provides FSCS protection on deposits up to £120,000. This is a fundamental banking safeguard.
Monthly Cash Flow Report
Monzo provides an automatic monthly cash flow report showing income and spending patterns over time — a useful at-a-glance financial health check beyond the MTD compliance function.
In-App MTD Education: Explainers, Timelines, Reminders
Monzo has invested significantly in in-app MTD education, with bite-size explainers, a complete tax timeline, upcoming deadline reminders, and interactive lessons on MTD basics. This is particularly useful for landlords and sole traders who are new to MTD and want guidance from within the tool they already use daily.
Named Best Business Banking Provider (British Bank Awards 2024)
Monzo is one of the UK's most trusted and widely used digital business banks, with over 800,000 business customers and a strong track record in app quality and customer service.
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 Monzo Business?
Monzo Business is the better choice for:
Landlords and Sole Traders Who Want Everything in One Banking App
If you already use Monzo for business banking — or are happy to switch — its built-in MTD tool means you meet your quarterly compliance obligations in the same app where you manage your money, with no extra software to buy or learn.
Straightforward Landlords with Simple, Single-Source Income
Monzo's MTD tool is openly positioned for straightforward tax needs. A landlord with a single property, all income and expenses passing through the Monzo account, and no joint ownership or foreign property will find Monzo an excellent, zero-cost MTD solution.
Sole Traders Who Want to Automate Tax Savings
The Tax Pot feature (Pro/Team) is genuinely useful for self-employed people who want money automatically set aside for tax with every payment received. It prevents the common problem of year-end tax surprises.
Business Owners Who Need Banking and Accounting Integrations Together
On the Pro plan (£9/month), Monzo integrates with Xero, QuickBooks, FreeAgent, and Sage — giving users who already use these tools a seamless bank-to-accounting pipeline that automatically syncs all transactions.
Tech-Savvy First-Time MTD Users Who Want Guidance
Monzo's in-app explainers, tax timeline, and deadline reminders are excellent onboarding tools for landlords and sole traders who are new to MTD and want clear, accessible guidance within an app they already trust.