London-based technology firm TaxScouts has launched a “fast, high quality and affordable” tax filing service for the 5.5 million SME’s in the UK. As a result, navigating the frequent changes, updates and U-turns on tax regulations could be simplified for small businesses for a one-off, transparent and low fixed fee.
TaxScouts has been on a mission to take the stress, complexity, inconvenience and cost out of dealing with taxes since 2018. Launching with its revolutionary self-assessment service, the platform’s model delivers fast, affordable and top quality tax filing, supported by its network of fully vetted, highly experienced accountants. After experiencing rapid success with its self-assessment offering, filing over 100,000 returns to date, TaxScouts will now bring the same model to Limited Companies – for a highly competitive, one-off fixed fee.
Currently, more than 5.5 million SME companies are registered in the UK, making up three fifths of the country’s workforce and growing by 500,000 new companies every year. And with 56% of these estimated to be individuals operating under a company name, the team at TaxScouts realised they could offer some much-needed support to this market.
TaxScouts’ platform automates sales, data collection, messaging, customer onboarding and admin for accountants, cutting traditional accountancy legwork by up to five times and passing the cost savings onto customers – one-off fees for non-trading companies are £149, and start from £399 for trading companies.
Commenting on this, TaxScouts CEO, Mal Cowley, said: “From National Insurance fluctuations to changing thresholds for tax-free earnings, the tax landscape has become a real headache and overhead for small business owners and one-man-bands who don’t have the luxury of an in-house finance team.
“It’s hard enough to run and maintain a business in the current climate, most people don’t have time to keep up and stay engaged with tax regulations as well. They need to concentrate on the important stuff – like growing their businesses.
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