untied today announced it is extending its existing tax APIs to enable third parties to include MTD for Income Tax capability. This is to enable partners to prepare for the MTD Income Tax timetable that was confirmed by the government at the end of September, and which will see new software mandated for millions of people who are self-employed or who rent out property by April 2024.
untied’s tax-as-a-service enables partners, banks, financial platforms, and other institutions to use untied’s APIs (Application Programming Interfaces) to embed personal tax features within their own suite of products and services.
untied is the first end-to-end app recognised by HMRC for Making Tax Digital for Income Tax and supports both end users and agents. The APIs, which will be deployed in February 2022, include MTD registration with HMRC, transaction tagging, deadline management and submissions - all powered by untied and accessed within the third party software. Core tax data and authentication will be securely managed by untied.
The APIs are focused on the new quarterly MTD submission requirements for self-employed and property landlords.
APIs are a good way of helping banks and third-party companies boost their digital experiences, by tapping into a broader API ecosystem and providing customers with additional services that they do not need to build or maintain in-house themselves.
Kevin Sefton, CEO of untied, commented: “untied’s APIs allow a third party to harness their strengths with our technical and tax expertise in a way that is quicker, easier and more cost effective than connecting directly to HMRC. Tax embedding can be as simple as displaying tax information, through to more sophisticated tax management and communications.
“Tax authority systems and APIs are like a giant mountain range created over time for tax assessment and collection. untied navigates and reassembles them into pioneering services. Third parties no longer have to incur the technical and financial overhead of maintaining complex integrations across multiple endpoints and different methods of authentication with HMRC. Instead they can focus on outstanding services for customers and users with embedded tax capability.”
This work is being carried out as part of the SMART initiative - a BCR backed project with partner tomato pay focussed on making revenue collection and tax management as seamless as possible for SMEs.
For further information:
Chantal Heckford email@example.com