untied unveils new smart invoicing feature

November 15, 2021

Allows individuals to quickly send invoices that can be paid easily and securely by their customers using open banking

Automatic tagging of payments received for tax purposes

Delivers against BCR-backed SMART project

London, UK – untied, the UK’s personal tax app, today announced that it has launched a new invoicing capability on both its Android and iOS apps, in response to customer demand.

The feature is an extension of untied’s existing payment request facility and is embedded into the invoice. The open banking-enabled service allows untied users, such as self-employed tradespeople, to easily send invoices with an embedded payment request link direct from the untied app. Their customers can pay rapidly, safely and securely via open banking using their own bank’s mobile/online apps. As befits the UK’s personal tax app, when money is received, it’s automatically recorded properly for tax purposes.

Funds are instantly sent directly from the payer’s bank account to the person who sent the invoice. Unlike direct debits, bank transfer or card payments, there is no need to enter account numbers or sort codes or share card details. Moreover, it is free for both parties.

Once an invoice has been sent via the app, an email is sent to the payer – and to the sender if needed - with a PDF copy of the invoice. A payment link is also generated as well as a QR code that can also be scanned if face-to-face. If the payer wants to proceed with the transaction, they choose which of their accounts they want to make payment from and they will be directed to their banking app to pay as normal.

When untied users receive any funds, the transaction is matched to any pre-set tax tag, which automatically updates it on their tax return too. This puts the supplier or landlord safe in the knowledge that it will be included in their earnings for the tax year and incorporated in tax calculations and submissions to HMRC.

The service is powered by tomato pay as part of the businesses’ SMART project backed by the Banking Competition Remedies (BCR) Capability & Innovation Fund.

Paul Loberman, chief product officer, untied, said: “Our new invoicing feature is a powerful and important addition to untied. Users told us they were looking for a convenient and professional way to invoice people for their services, so we prioritised the feature on our product roadmap. The embedded open banking payment capability makes it perfect for self-employed individuals to get paid quickly and securely, and then see that payment update instantly their income tax calculation in the untied app. They can even personalise and design what the invoice looks like before it is sent. As with everything we do it at untied, we really care about this being useful to our users, and we’ve enabled this in both our mobile and desktop browser apps.”


For further information:

Chantal Heckford pr@untied.io