Sage has teamed up with digital bank Monzo to embed its MTD for Income Tax technology directly into the bank accounts of 700,000+ business customers.
It means those who have Monzo bank accounts can file taxes directly to HMRC without leaving the Monzo app.
The full launch of the new tool is expected in time for the new tax year, when MTD comes into effect.
“Managing taxes is one of the biggest headaches for sole traders and landlords,” said Jordan Shwide, General Manager, Business Banking at Monzo.“That’s why we’re making tax filing simple with a built-in tool, powered by Sage, that lets customers file directly to HMRC from their Monzo Business bank account. This is yet another step in building the one app that helps small and growing businesses confidently manage all of their business finances with Monzo.”
