RentalBux vs. MYT
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. MYT is a strong alternative for small and micro businesses — particularly tradespeople and freelancers — with award-winning AI expense capture, bank integration, invoicing, and VAT return submission. But its narrow focus on general small business bookkeeping, absence of property management tools, no joint ownership support, no foreign property MTD coverage, no agent filing capability, and no free plan make it a less complete solution for landlords with broader needs.
At-a-Glance MTD Software Comparison
Key differences between RentalBux and MYT across MTD compliance, property management, bookkeeping, pricing, and landlord-specific features.
| Feature | RentalBux | MYT |
|---|---|---|
| Software Type | Property/Landlord Platform | Small Business Bookkeeping |
| Target Users | Landlords, Sole Traders, Letting Agents | Sole Traders, Freelancers, Tradespeople |
| Income Sources Supported | Sole Trader + UK Property + Foreign Property | Sole Trader only |
| Free MTD Software Plan | Free until March 2028 (1 property) | No |
| MTD Quarterly Updates to HMRC | Yes | Yes |
| Final Declaration | Yes | Yes |
| Bank Reconciliation | Yes | Yes |
| Automated Bank Feeds | Yes | Yes |
| Invoice Creation | Yes | Yes |
| Receipt Capture (OCR) | Yes | Yes |
| 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 | Web, iOS, Android |
| GDPR Compliant | Yes | Yes |
What is RentalBux? What is MYT?
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 MYT?
Boost The Efficiency Of Your Accounting Processes With MYT Bookkeeping
MYT (mytsoftware.co.uk) is a cloud-based AI-powered bookkeeping and accounting platform built specifically for small and micro businesses such as builders, plumbers, electricians, health and beauty professionals, contractors, and freelancers. Founded by a team with deep experience in accounting, software development, and AI technology, MYT's core mission is to eliminate manual data entry and make bookkeeping and tax compliance stress-free for business owners who have neither the time nor the accounting background to manage their finances manually.
MYT is HMRC-recognised for Making Tax Digital and handles VAT returns, quarterly updates, and Self Assessment filing. Its headline feature is award-winning AI expense capture: users simply photograph a receipt on their mobile phone and MYT's AI reads, extracts, and categorises the expense automatically. Bank account integration pulls income and expenses directly into the platform via open banking, removing the need to re-enter bank statement data.
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
- Award-winning AI expense capture from photos
- HMRC-recognised for MTD ITSA
- CIS contractor support for tradespeople
- GPS mileage auto-tracking
- Multi-currency support
- BOPP payment integration on invoices
- Mobile app for iOS and Android
- Mini stock / inventory management
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
- No property management features
- No joint ownership or profit-splitting support
- No foreign property MTD coverage
- No agent filing on behalf of clients
- No free plan — minimum £10/month after trial
- No landlord-specific chart of accounts
- No property compliance tracking (EPC, gas safety)
- Not designed for landlords or property portfolios
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 MYT Handles MTD Compliance
MYT covers sole trader income for MTD purposes, with quarterly updates and final declarations supported. Its AI-powered bookkeeping automates much of the record-keeping process — transaction categorisation, receipt extraction, and bank reconciliation — ensuring digital records are maintained in a format HMRC requires. However, MYT does not appear on HMRC's recognised list for foreign property income under MTD ITSA. Landlords who earn from overseas property would need a separate platform to cover that income stream. MYT also does not support agent filing — submissions must be made directly by the user.
| Feature | RentalBux | MYT |
|---|---|---|
| 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 — Broader income type coverage including foreign property, plus agent filing capability and combined multi-stream submissions give RentalBux a decisive advantage for landlords with mixed income preparing for Making Tax Digital.
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.
MYT: No Property Management Capability
MYT was not designed for landlords and does not include property management features. There is no property portfolio tracking, no tenant management, no rent tracking per property, no joint ownership or profit-splitting, no compliance document alerts, and no HMO support. MYT's focus is entirely on bookkeeping and accounting for general small businesses. Landlords who use MYT would need a separate property management tool alongside it — adding cost and complexity.
| Feature | RentalBux | MYT |
|---|---|---|
| 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 — MYT has no property management features whatsoever. For any landlord wanting to manage properties, tenancies, compliance, and MTD tax filings from a single platform, RentalBux is the only viable option between these two.
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.
MYT: AI-First Bookkeeping for General Small Businesses
MYT takes an AI-powered approach to bookkeeping: bank feeds automatically import transactions, and AI categorises expenses with minimal manual input. The platform generates profit & loss statements, balance sheets, and trial balances. It also includes multi-currency support — a feature RentalBux currently lacks. However, MYT uses generic business accounting categories rather than landlord-specific SA105/SA106 mappings. This means landlords using MYT would need to manually ensure their expense categories align with HMRC's property income categories — adding complexity and risk of miscategorisation.
| Feature | RentalBux | MYT |
|---|---|---|
| Cash Basis Accounting | Yes | Yes |
| 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 | Yes |
| Double-Entry Bookkeeping | Yes | No |
| HMRC Box Pre-Mapping | Yes | No |
| Xero Integration | No | No |
| Spreadsheet Import/Export | Yes | Yes |
| Digital Record Storage | Yes | Yes |
Winner: RentalBux — The landlord-tailored pre-built chart of accounts, journal entries, and double-entry bookkeeping give RentalBux proper accounting structure that is essential for clean, audit-ready records under MTD. MYT's generic categories are not optimised for property income.
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.
MYT: Award-Winning AI Expense Capture for Small Businesses
MYT's headline feature is its award-winning AI expense capture: photograph a receipt and MYT automatically reads, extracts, and categorises the expense. Bank feeds pull transactions directly from connected accounts. Invoices can be created and sent with BOPP instant payment links. MYT also includes GPS mileage auto-tracking — a valuable feature for tradespeople who drive between jobs — and CIS contractor statement management. However, MYT's expense categories are generic and not optimised for property allowable expenses.
| Feature | RentalBux | MYT |
|---|---|---|
| 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 | No |
| Mileage Tracking | No | Yes |
| AI Auto-Categorisation | Coming soon | Yes |
Winner: Tie — depends on use case — MYT leads for tradespeople with its award-winning AI capture, CIS support, and GPS mileage tracking. RentalBux leads for landlords with SA105-mapped categorisation and letting agent statement import.
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.
MYT: Standard Business Financial Reporting
MYT generates profit & loss statements, balance sheets, and trial balances. Financial reports can be accessed and exported from within the platform. MYT does not offer property-level reporting, per-property P&L, portfolio performance metrics, or any landlord-specific financial analysis. There is no tax forecasting or running tax estimate feature.
| Feature | RentalBux | MYT |
|---|---|---|
| Profit & Loss Report | Yes (formal) | Yes |
| Balance Sheet | Yes | Yes |
| Trial Balance | Yes | Yes |
| Dashboard/Overview | Yes | Yes |
| Real-Time Financial Data | Yes | Yes |
| Cash Flow Reporting | No | No |
| Tax Estimate/Forecast | Yes | No |
| AI-Powered Features | Coming soon | Yes |
Winner: RentalBux — Per-property P&L, Section 24 handling, and portfolio-level reporting give RentalBux a decisive advantage for landlords. MYT's reports are standard business statements with no property-specific insight.
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.
MYT's Collaborative Features
MYT supports multi-user access with role-based permissions, allowing business owners to invite their accountant or bookkeeper to collaborate directly within the platform. Accountants can view records, review transactions, and assist with bookkeeping without requiring data to be exported and shared manually. MYT is available across all devices — web, iOS, and Android — ensuring users can manage invoices, capture receipts, and reconcile bank transactions from wherever they are.
| Feature | RentalBux | MYT |
|---|---|---|
| Accountant/Advisor Portal | Yes | Yes |
| Multi-User Access | Yes | Yes |
| Agent Filing on Behalf | Yes | No |
| Bank Integration | Yes | Yes |
| Platform | iOS, Android | Web, iOS, Android |
| Web Browser Access | Yes | Yes |
| FCA Regulated | Yes | No |
| GDPR Compliant | Yes | Yes |
Winner: RentalBux — Agent filing on behalf makes RentalBux significantly more flexible for accountants, letting agents, and professionals managing landlord portfolios under MTD. MYT's third-party integrations (QuickBooks, BOPP, CRM) give it an edge for general business workflows.
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.
MYT emphasises simplicity and mobile-first design. Users report that the AI expense capture in particular saves significant time, and that the interface is clean and intuitive. MYT holds a 4.9-star rating on Google Reviews and a 5.0-star rating on the App Store (29 ratings). Customer support is available by phone (+44 330 056 8705), email, and via a book-a-demo service. MYT is GDPR-compliant and uses cloud infrastructure with encryption to protect user data.
| Feature | RentalBux | MYT |
|---|---|---|
| Phone Support | Yes | Yes |
| Chat Support | Yes | Yes |
| Email Support | Yes | Yes |
| Help Centre/Knowledge Base | Yes | Yes |
| FCA Regulated | Yes | No |
| Enterprise-Grade Security | Yes | |
| Enterprise-Grade Security | No |
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 MYT Offers
CIS Contractor Statement Management
MYT supports Construction Industry Scheme (CIS) contractor statements — an essential feature for builders, subcontractors, and tradespeople working under CIS.
GPS Mileage Auto-Tracking
MYT automatically records mileage via GPS as users travel between jobs or sites. Mileage can be claimed as an allowable business expense against sole trader income. MYT's GPS-powered automation is particularly valuable for tradespeople covering multiple sites daily.
Multi-Currency Support
MYT supports multi-currency transaction recording and reconciliation with real-time exchange rate conversion — useful for small businesses dealing with international clients or suppliers.
BOPP Instant Payment Integration
Invoices created in MYT include BOPP (Bank of Payments Protocol) instant payment links, allowing clients to pay immediately upon receipt of an invoice. This reduces debtor days for sole traders billing clients regularly.
Mini Stock / Inventory Management
MYT includes basic stock and inventory management for small businesses that carry materials, supplies, or products.
Third-Party App Integrations
MYT integrates with QuickBooks, CRM platforms, BOPP, and other accounting tools, enabling businesses to connect MYT to their existing technology stack.
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 MYT?
MYT is the better MTD software choice for:
Sole Traders in the Trades and Services Sector
Builders, plumbers, electricians, electricians, health and beauty professionals, and other tradespeople who deal with high volumes of receipts, CIS statements, and invoices will find MYT's AI-powered automation a genuine time-saver.
Freelancers and Contractors
Freelancers billing multiple clients, managing expenses across different projects, and tracking mileage between work locations will benefit from MYT's invoice creator, GPS mileage tracking, and BOPP payment integration.
Small Businesses with International Clients
The multi-currency support with real-time exchange rate conversion makes MYT a practical choice for small businesses dealing in foreign currencies.
Businesses Already Using QuickBooks or Other Tools
MYT integrates with QuickBooks, CRM tools, and BOPP, making it compatible with existing technology stacks for small businesses that want AI-powered bookkeeping without replacing their current systems.
Small Business Owners Prioritising Mobile-First Simplicity
MYT's mobile app, photo-based receipt capture, and clean interface make it one of the most accessible bookkeeping tools for users who manage their finances primarily from a smartphone.