Hammock

Built for UK landlord MTD from day one. HMRC-recognised for MTD Income Tax, with quarterly updates and Final Declaration flow specifically modelled around UK property income, the FHL abolition (April 2025), and the phased thresholds. The product team's focus on landlords means tax-compliance edge cases (joint ownership, mid-year property purchase, mixed long-let and short-let income) are handled natively rather than worked around.

Property-first reporting. Per-property profit and loss, portfolio-level rental yield, expense breakdowns by property, and HMRC-ready quarterly summaries. No general management accounts (no balance sheet, trial balance or cash flow statements), the reporting depth is exactly what a landlord, mortgage broker or buy-to-let-focused accountant asks for, no more.

Landlord bookkeeping rather than full double-entry accounting. Hammock tracks rent income, deposits (held in ringfenced views), service charges, mortgage interest and allowable expenses on a per-property basis. There's no chart of accounts and no journal entries, you don't need them to file a property return. If you also run a non-property business you'd need a second tool for that side.

Not applicable. Landlords don't track inventory, and Hammock doesn't pretend to.

Replaced by per-property tracking. Hammock treats each property as the unit of profitability rather than projects or clients, every transaction lives against a property, and you can see which property is profitable, which is loss-making and which has cash sitting in deposit. For landlords, this is the right shape; for non-property businesses it's irrelevant.

Strong for property-specific expenses. The mobile app captures receipts (boiler repair, agent fees, mileage to a property) directly against a property and an expense category, so allowable expenses sit in the right place for the quarterly update without later reconciliation. Mileage tracking is built-in. The expense categories themselves are mapped to HMRC's UK Property Income categories rather than a generic chart of accounts.

Useful for buy-to-let mortgages and portfolio refinancing. Per-property profit reports, rental yield calculations and clean income evidence are exactly what BTL brokers and lenders ask for, Hammock exports map directly to the affordability calculations they run. Less relevant for non-property credit applications.

Strong starting point if you're a new landlord with one or a few properties. The free single-property tier covers what most first-time landlords need (rent tracking, deposit ringfencing, MTD-ready quarterly summaries) at zero cost. Less suitable as a starting point for non-property self-employment, that's not Hammock's market.

Not applicable in any meaningful way. Hammock doesn't produce ESG or EPC-linked sustainability reporting beyond letting you tag energy-efficiency related expenses (insulation, new boilers) as allowable costs.

Designed for landlords, not accountants. The mental model is properties, tenants and rent cycles rather than ledgers and accounts, which makes onboarding fast for first-time landlords who'd find a generic accounting tool overwhelming. Excellent mobile app. The trade-off is that an accountant used to Xero won't have the same workflow they're used to.