TaxCalc’s set of software solutions support UK-based accountancy practices. Credit: PanuShot/Shutterstock.

TaxCalc, a UK-based provider of tax and accounts compliance software, has secured investment from STG Allegro, a US-based buyout fund managed by STG Partners, to enhance product offerings. 

The UK-based company plans to partner with STG, and use the funds to improve its products, invest in customer support and launch new, innovative solutions.  

TaxCalc’s set of software solutions support UK-based accountancy practices with accounts production, tax compliance and practice management solutions. 

The company’s product suite includes WorkFlow, Communications Centre, AML Centre, FRS 102 MLA and Group Accounts, all accessible through the unique CloudConnect service. 

STG Allegro co-lead managing director Umang Kajaria said: “The pace of innovation coming out of TaxCalc reflects their commitment to their customers, as well as their ability to understand the needs of the accounting firms. We have been impressed by TaxCalc’s focus on providing high-quality, reliable software at great value.  

“We look forward to partnering with the TaxCalc management team to continue delivering best-in-class software, product innovation and support to their highly valued accounting firm customers.” 

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Since its inception in 2004 by Tracy Ebdon-Poole, TaxCalc expanded to more than 110 employees and 11,000 accounting company customers. 

TaxCalc Founder Tracy Ebdon-Poole said: “Our mission at TaxCalc is to provide cutting-edge, reliable, and trusted tax compliance and accountancy software that is intuitive and delivers exceptional value. I am thrilled that TaxCalc will be partnering with STG to continue to support our customers in this mission. 

“STG has a strong track record of growing software companies with their focus on customer-driven product innovation, customer service and strategic transformation.”