Business banking that estimates tax

4th Feb 2020
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You’re probably just about recovering from the annual chaos that the self-assessment deadline causes in January each year. 

We created Countingup to make it easier for your clients to share their information with you and run their businesses. Next year you shouldn’t be facing a deluge of paper records from clients in January (well at least not from your clients using Countingup anyway!).

The last-minute dash to file self-assessment returns involves more than just having to find paper receipts and records. For many, it is the first indication of their tax bill. If they’ve underestimated what is owed it can be incredibly stressful.

Whilst other banking providers see this as an opportunity to sell businesses overpriced short term funding we see the world very differently. Like you, we want to make sure small business owners can understand their liabilities, such as their tax bill, well in advance. 

That’s why we’re delighted to announce the launch of the first tax estimate tool that’s fully integrated into a business current account.

Sole traders and Self-Assessment

Self-employed sole traders now get a real-time estimate of how much Income Tax and National Insurance is owed.

Limited companies and Corporation Tax

Limited companies now get a real-time estimate of how much Corporation Tax is owed.

How much tax?

This release gives you a new insight into how much your client’s tax bill is likely to be, continuously updating throughout the year. 

The future is Making Tax Digital

The tax estimate is our first step towards providing a full tax solution for our accountant partners. Soon you will be able to submit MTD VAT returns for your clients from your Countingup Accountant Hub.  

To find out more about the Countingup Accountant Hub please e-mail [email protected] or sign up for a Hub HERE