Company: Taxd
Founder: Arjun Kumar, Eamon Shahir, James Green
Website: https://www.taxd.co.uk/
About Taxd
Taxd is a fully digital, automated tax filing system that is drastically shaking up the accountancy sector using disruptive, user-friendly technology. It has been designed to simplify the tax returns process, which is something many companies dread due to cost and administrative challenges. The team started with the Self Assessment for personal tax and saved individuals large amounts of money. From there, they applied this logic to companies, requiring further innovation and expertise.
Taxd’s ground-breaking technology can save small business owners substantial amounts of money, at a time when they are facing increased costs and are desperate to save money wherever possible, including on their tax bill.
Co-founder and Chief Technology Officer James Green has created software that automates and streamlines a traditionally complex process to deliver maximum tax efficiency without compromising HMRC compliance, saving small businesses time and money.
As a HMRC recognised software supplier, Taxd prepares the balance sheet, profit & loss for the relevant company account filings and corporate tax filings, aiming to make the tax process intuitive, cost-effective and accessible. Instead of filling out long HMRC forms, users are guided through a dynamic, smart questionnaire that adapts based on their responses.
In addition, users can additionally request to speak directly to a Taxd tax expert for additional support while filing their return, building trust for businesses using the technology for the first time. This combination of groundbreaking technology and human expertise puts Taxd above its competitors and allows their pricing structure to be so competitive.
It is the only digital tax filing platform that offers a hybrid (technological and human) approach, covers taxpayers beyond the self-employed and features an easy-to-use interface that can be understood and used by everyone. This is a step towards becoming a holistic digital accountant, providing one platform to manage every form of tax and accounting for individuals, businesses and business owners.
Generally tax software is designed for accountants to use, whereas Taxd is designed with the end-user in mind. It’s made for the individual limited company director to use as an alternative to using costly accountants.
Taxd focuses on sole-director managed businesses, such as: buy-to-let SPVs, companies using Xero/ other accounting software and contractors / consultants. For just £299 a year, Taxd technology can handle Company Accounts and Corporate Tax Returns, so is a much cheaper and more efficient alternative than traditional accountants.
There is a simple 3-step process for clients to follow:
1) Introductory questions: building your personalised experience
2) Main questionnaire: company details
3) Review and submit, including a call with a chartered accountant
The questionnaire asks relevant, straightforward questions to draw information from the client, using the data to prepare the accounts with tax logic. Unlike the HMRC system, these questions are simple, skipping the tax jargon to make the process straightforward for business owners without a finance background.
The website is designed to be user-friendly, guiding users through the process with easy to understand terminology and explanations. This allows users to file tax returns efficiently while ensuring compliance with UK tax laws throughout, reinforcing the trustworthiness of the platform.
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