New Consumer Fintech Simplifies Tax Filing, Taxd, Receives Pre-Funding

Consumer fintech company, Taxd, has announced the receipt of pre-funding to help help people and businesses complete tax returns efficiently. Taxd makes the tax return self-service, simplified, personal and accessible. The investment gives the company the opportunity to go to market at an increased pace to help impact the millions of people across the UK who struggle to understand tax compliance.

Recognized by HMRC, Taxd helps clients seamlessly complete and submit self-assessment forms and online tax returns with maximum efficiency. Every year, 13 million people complete an HMRC self-assessment form in the UK, which can be confusing, time-consuming and costly if done incorrectly. For millions of sole proprietors and landlords, those annual tax returns are turning quarterly, along with the complexity that comes with them. Increasingly demanding legislation means that tax planning and advice are becoming increasingly expensive.

“Our goal is to make tax simple for people and businesses through the use of technology and automation.” says co-founder of Taxd, Arjun Kumar. “The pre-seed investment means we are able to go to market in a more meaningful way and at an increased pace to help impact the millions of people across the UK who struggle to understand tax compliance.”

Co-founder, Eamon Shahir, adds: “Taxd will soon be able to cover 100% of tax cases in the UK, delivering exceptional results for a fraction of the average accounting fee. Our investors understand our vision and know how to leverage and grow the entrepreneurial power. We really value these partnerships as we work to become a technology-driven one-stop shop for UK tax compliance.”

Building on the technical tax expertise of its founders, Taxd caters to complex tax situations, including residency and foreign income, historically areas where individuals could not file online or had to resort to expensive alternatives.

Taxd provides customers with a fast and cost-effective method of managing personal, freelance and tax returns. The company is on a mission to make the tax process intuitive and informative for users. Taxd focuses on building out functionality to make tax compliance completely autonomous – removing the costly and stressful pain points that many people experience.

Taxd is recognized by HMRC and overseen by the Chartered Institute of Taxation.