Monzo partners with Sage for tax filing

Tax filing made simpler for sole traders/landlords. Digital bank Monzo Bank teams up with accounting software vendor, Sage, to launch tool to simplify tax filing. 📚Read the full article here: https://lnkd.in/e_yzajgs #taxfiling #businessowners #landlords #soletraders

📢 Monzo + Sage bring “Making Tax Digital” inside banking apps 📢 Banking meets accounting – and clients will expect more. Monzo has just launched a built-in tax filing tool (powered by Sage) for sole traders and landlords - meaning users can now file directly to HMRC through their business banking app. It’s a smart move that blurs the line between fintech and compliance. For accountants, it’s another signal that clients want seamless, app-based tax management – and they’ll compare your service experience to what they get from their bank. While it won’t replace proper tax advice anytime soon, it raises the bar for how digital and integrated compliance support needs to be. 👉 How are your firm’s systems keeping pace with this kind of automation? #MakingTaxDigital #AccountingTechnology #Fintech #Sage #Monzo #DigitalTransformation #Accountants https://lnkd.in/eC35dKWY

📋 Monzo embeds Sage tax filing to capture 3 million UK SME compliance mandates Monzo Bank has deployed embedded tax filing infrastructure through a partnership with Sage, enabling 700,000+ business customers to submit quarterly returns directly to HMRC from their banking app ahead of April 2026 Making Tax Digital deadlines. With 49% of sole traders unaware of MTD requirements and 55% fearing administrative burdens, this integration demonstrates how regulatory mandates create captive markets for platforms offering compliance solutions embedded within existing banking relationships. Strategic capabilities and competitive positioning: ▪️ Sage Embedded Services technology enables direct HMRC connectivity without customers leaving Monzo application environment, eliminating separate accounting software subscriptions and consolidating tax filing within the primary banking platform ▪️ Making Tax Digital affects nearly 3 million UK sole traders and landlords through phased rollout: businesses earning over £50,000 must comply from April 2026, those over £30,000 from April 2027, and over £20,000 📊 from April 2028 ▪️ Jordan Shwide, GM Business Banking at Monzo, positions the tool as eliminating tax management headaches through a unified interface for categorizing expenses, attaching receipts, setting aside reserves, and submitting returns ▪️ Gordon Stuart, SVP Fintech and Embedded Services at Sage, frames the embedded approach as meeting customers within apps they already use daily rather than requiring separate software adoption ▪️ Early access waitlist opened ahead of regulatory deadlines, using compliance infrastructure as a customer acquisition and retention mechanism, increasing switching costs as businesses accumulate transaction history and tax filing records within a single platform The partnership demonstrates how digital banking platforms expand beyond payment processing into adjacent services traditionally provided by accountants, creating competitive pressure on traditional banks to build, partner, or accept customer migration to integrated platforms. Financial institutions developing embedded services strategies and evaluating fintech partnerships can connect with peers at the SME Banking Forum 2025 in Vienna this November. The invite-only event recognizes the TOP20 banks across digital banking and business banking categories from 1,000 evaluated institutions worldwide. 👉 Read the full article here: https://lnkd.in/dqKEmJ8U Learn more about the forum: https://lnkd.in/e_ExTSKd #EmbeddedFinance #SMEBanking #DigitalBanking #MakingTaxDigital #FintechInnovation #BusinessBanking #RegulatoryCompliance #UKFintech #SMEFinance #BankingTechnology #Monzo

Monzo Partners with Sage to Launch In-App Tax Filing Tool for Business Customers: ... fintech & embedded services at Sage. “This collaboration is a ... The Fintech Times is the world's first and only newspaper dedicated to fintech. #finpeform #fintech

🚀 Monzo Bank and Sage: Simplifying tax for UK businesses Monzo has partnered with Sage to introduce a new in-app tax filing tool for business customers, specifically aimed at sole traders and landlords. The tool will allow users to submit tax returns directly to HM Revenue & Customs from within the Monzo app, in preparation for the Making Tax Digital (MTD) for Income Tax changes coming into effect from April 2026. The integration is powered by Sage Embedded Services, which brings accounting and compliance capabilities into platforms that businesses already use. This move is intended to help users meet MTD requirements without needing separate accounting software. According to research from Sage, many sole traders are still unaware of the upcoming changes, and those who are aware are concerned about the added admin burden. A waitlist for the new feature is now open. The full rollout is expected before the new tax year. Monzo currently supports over 700,000 business customers. Full article via The Fintech Times: https://lnkd.in/eip3z46J #Monzo #Sage #MakingTaxDigital #Fintech #BusinessBanking #TaxCompliance #EmbeddedFinance #HMRC

𝗧𝗵𝗲 𝗠𝗧𝗗 𝗚𝗼𝗹𝗱𝗿𝘂𝘀𝗵 𝗶𝘀 𝗢𝗡! 𝗠𝗼𝗻𝘇𝗼 𝗷𝗼𝗶𝗻𝘀 𝗡𝗮𝘁𝗪𝗲𝘀𝘁, 𝗦𝘁𝗮𝗿𝗹𝗶𝗻𝗴, 𝗮𝗻𝗱 𝗧𝗶𝗱𝗲 𝗶𝗻 𝘁𝗵𝗲 𝗮𝗰𝗰𝗼𝘂𝗻𝘁𝗶𝗻𝗴 𝘀𝗽𝗮𝗰𝗲. The race to capture the unrepresented 𝗠𝗧𝗗 𝗜𝗧 𝗺𝗮𝗿𝗸𝗲𝘁 is heating up. Monzo Bank is the latest challenger bank to strategically embed tax filing, announcing a partnership with Sage to offer direct MTD IT submissions from its business accounts. 𝗪𝗵𝘆 𝘁𝗵𝗶𝘀 𝗺𝗮𝘁𝘁𝗲𝗿𝘀: 𝗖𝗼𝗻𝘃𝗲𝗻𝗶𝗲𝗻𝗰𝗲 𝘃𝘀. 𝗖𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲: Tools like Monzo/Sage simplify filing, which is great. 𝗕𝘂𝘁 𝗠𝗧𝗗 𝗰𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲 𝗶𝘀 𝗮𝗯𝗼𝘂𝘁 𝘁𝗮𝘅 𝗹𝗮𝘄, 𝗻𝗼𝘁 𝗷𝘂𝘀𝘁 𝘀𝗼𝗳𝘁𝘄𝗮𝗿𝗲. The full responsibility for correct categorisation, reliefs, and final declaration accuracy still rests on the taxpayer. 𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝗶𝗰 𝗦𝗵𝗶𝗳𝘁: Banks are targeting the 𝟴𝟰𝟬,𝟬𝟬𝟬 𝘂𝗻𝗿𝗲𝗽𝗿𝗲𝘀𝗲𝗻𝘁𝗲𝗱 𝘀𝗼𝗹𝗲 𝘁𝗿𝗮𝗱𝗲𝗿𝘀 𝗮𝗻𝗱 𝗹𝗮𝗻𝗱𝗹𝗼𝗿𝗱𝘀 who don't currently use commercial software. This is a massive shift in how the industry operates. 🛡️ 𝗘𝗻𝘀𝘂𝗿𝗲 𝟭𝟬𝟬% 𝗖𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲: 𝗣𝗮𝗿𝘁𝗻𝗲𝗿 𝘄𝗶𝘁𝗵 Accountancy Solutions Simple filing tools are fantastic, but they can't replace expert tax advice. Accountancy Solutions ensures you use Monzo's convenience without compromising accuracy or missing crucial tax savings. We offer: ✅ 𝗧𝗮𝘅 𝗢𝗽𝘁𝗶𝗺𝗶𝘀𝗮𝘁𝗶𝗼𝗻: We check your quarterly updates for maximum legal deductions and reliefs that simple software might miss. ✅ 𝗦𝗲𝗮𝗺𝗹𝗲𝘀𝘀 𝗜𝗻𝘁𝗲𝗴𝗿𝗮𝘁𝗶𝗼𝗻: We connect as your agent to review the data, file the complex year-end Final Declaration, and guarantee your submissions are fully compliant. ✅ 𝗣𝗲𝗮𝗰𝗲 𝗼𝗳 𝗠𝗶𝗻𝗱: You get the ease of in-app recording with the absolute confidence of expert oversight. 𝗗𝗼𝗻'𝘁 𝗺𝗶𝘀𝘁𝗮𝗸𝗲 𝘀𝗶𝗺𝗽𝗹𝗶𝗰𝗶𝘁𝘆 𝗳𝗼𝗿 𝘀𝗮𝗳𝗲𝘁𝘆. Use the bank's tool for recording, but use Accountancy Solutions for guaranteed compliance and tax savings. ➡️ 𝗖𝗼𝗻𝘁𝗮𝗰𝘁 𝘂𝘀 𝘁𝗼𝗱𝗮𝘆 𝘁𝗼 𝗶𝗻𝘁𝗲𝗴𝗿𝗮𝘁𝗲 𝗼𝘂𝗿 𝗠𝗧𝗗 𝗰𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲 𝗼𝘃𝗲𝗿𝘀𝗶𝗴𝗵𝘁 𝘄𝗶𝘁𝗵 𝘆𝗼𝘂𝗿 𝗻𝗲𝘄 𝗱𝗶𝗴𝗶𝘁𝗮𝗹 𝘁𝗼𝗼𝗹𝘀! #MTDIT #EmbeddedFinance #TaxCompliance #AccountancySolutions #MonzoBusiness

🚀 Monzo is now allowing Making Tax Digital (MTD) filings directly from its business accounts. Soon, submitting tax updates and end-of-year returns to HMRC could be done with just a few taps in your banking app. But is this a good idea for business owners? While the convenience is undeniable, submitting MTD information yourself rather than engaging an accountant comes with some risks: - Higher chance of errors – a small mistake could lead to incorrect submissions - Missed tax planning opportunities – accountants are professionally trained to identify allowable expenses and advise on tax efficient timing. - Time and complexity – keeping digital records and understanding rules can be overwhelming - Lack of professional guidance – it is hard for a business owner to keep up to date with the changes in regulations. - Compliance risks – missing deadlines or filing in the wrong format can be costly. - No support in the event of an enquiry – accountants will support you if HMRC has questions. Do you think this kind of DIY MTD integration will genuinely help small business owners, or is it a convenience that comes with hidden risks? #MakingTaxDigital #MTD #Accounting #SmallBusiness

Starting your own business after being employed can feel like a breath of fresh air — until that first tax bill arrives. What catches many new business owners off guard isn’t just the bill itself. It’s the fact that your first payment can cover nearly 20 months of profit. If you’re a sole trader or in a partnership and you’ve been trading for a while without putting money aside, the 31st of January can feel like a financial ambush - this is the same with Directors taking dividends And then there’s the mystery of “payments on account.” They sound like something optional — they’re not. They’re HMRC’s way of asking for next year’s tax upfront, based on the assumption that you’ll earn the same. At Spotlight, we flag this early for new clients so they can plan ahead. But if you’re only just finding out what payments on account are, you’re not alone. This video explains exactly what they are, why they exist, and how to plan for them: https://lnkd.in/gKi-9pNV

Business tax filing… in your Monzo Bank app 🤯 And Sage made it happen. Monzo’s latest move into built-in tax filing is powered by Sage Embedded Services. Although this step is aimed at sole traders ahead of MTD for Income Tax in April 2026, it signals something bigger. Regulatory compliance is moving closer to everyday financial activity. And Sage is leading that shift. For mid-market organisations, it’s a clear sign of where the financial ecosystem is heading: 👉 Embedded compliance across platforms 👉 Seamless data flows 👉 Less admin, more strategic control Sage Intacct is already built to handle these kinds of changes at scale — not just for one tax submission, but for complex, multi-entity operations that demand control, visibility, and agility. The future of compliance is embedded. And Sage isn’t waiting for it to arrive — it’s building it 😉 #MakingTaxDigital #MTD #FinanceTransformation #EmbeddedFinance

Starling expands business banking capabilities ahead of new HMRC digital tax rules Starling Bank unveiled a suite of new tools for business customers, including AI-powered features, mobile invoicing, and HMRC-recognised ‘Making Tax Digital’ software. Available early next year, the new tax tool will let sole traders send information directly to HMRC from their Starling account. Following its acquisition of tax-accounting platform Ember, Starling integrated the solution into its app, enabling customers to manage tax filings, track expenses, and submit updates, all within their bank account. Source/More info: https://lnkd.in/eraFMJR3 This and more in the newsletter! Sign up here: https://lnkd.in/ecvqiKBY Find this helpful? [ 𝗿𝗲𝗽𝗼𝘀𝘁 ] Anything to add about this subject? [𝗶𝗻𝘃𝗶𝘁𝗲𝗱 𝘁𝗼 𝗰𝗼𝗺𝗺𝗲𝗻𝘁] Nice story. Next! [ 𝗹𝗶𝗸𝗲 ]