Reports in Nexus give you a clear, consolidated view of your property finances over any period you choose. You can use them to review your income and expenses, sense check your figures and export a copy for your own records.
To open Reports, select Reports from the navigation menu on the left. You'll find two report types:
Income & Expenses: a summary of your income and expenses, taking your ownership % into account.
Transactions: a detailed list of the individual transactions behind those figures
Running a Report
Both reports share the same set of filters along the top of the page. Use these to choose exactly what you want to see:
Properties — choose all properties, or select one or more specific properties
Date range — pick a preset period or set a custom start and end date using the calendar
Once you've set your filters, click Update to refresh the report with your selection.
Income & Expense Summary
The Income & Expense Summary gives you an overview of your portfolio's performance for the selected period. At the top you'll see three headline figures:
Taxable income — your total income counted towards tax for the period
Allowable expenses — the total expenses that can be deducted
Taxable profit — your estimated profit for the period (income less allowable expenses)
Below the summary, figures are broken down property by property. For each property you'll see its income and expenses listed by category, each with its own total, so you can see where the numbers come from.
Note: The forecast taxable profit is an estimate based on the figures in Nexus for the period you've selected. It is not a final tax calculation. Your final tax position is confirmed through HMRC after your Final Declaration. See Intro to Making Tax Digital for more on how this fits together.
Account Transactions
The Transactions report lists the individual transactions that make up your figures, again grouped by property. For each property you'll see a table showing:
Date — the date of the transaction
Category — the income or expense category
Description — a short description of the transaction
Income and Expenses — the amount, shown in the relevant column
Each property block ends with a total for income and expenses, so you can reconcile it against the summary report.
Reports vs. HMRC submissions
Reports are for your own review and record-keeping. They are separate from your official Making Tax Digital submissions to HMRC, which are made from the Making Tax Digital section. Running or exporting a report does not submit anything to HMRC. To submit your quarterly figures, see Managing Quarterly Submissions.
This article is general guidance on using Nexus and is not tax advice. Figures shown in reports are based on the data in your account and may not reflect your full tax position. If in doubt, speak to a qualified accountant or tax adviser.