untied releases seasonal tax stats for 2019 - untied

untied releases seasonal tax stats for 2019

Press release 2 January 2020

British company untied reports seasonal tax interest over Christmas period

As the 31 January tax deadline approaches, an estimated 12 million people in the UK are required to complete a tax return.

In spite of HMRC’s report that 3,003 people took the time to complete their tax return on Christmas Day there are many still yet to make their annual filings in time.

untied, a UK based mobile app startup backed by Barclays Bank is taking the pain out of self-assessment by making it easy for individuals to submit self-assessment tax return submissions.

Christmas Activity

The app, now live for iOS and Android, leverages open banking APIs to give users the power to pull in their financial data from their high street bank accounts. The app then sorts the financial data in real time, and learns how transactions are tagged to make personal tax submissions easy through their integration with HMRC.

The company saw a spike of activity over Christmas, with eight times more users filing their taxes on Boxing day, as opposed to Christmas Day.

“Our users were most active on Christmas Eve and Boxing Day. They seem to have enjoyed a good lunch on Christmas Day! People are most likely to be doing their taxes between 11am and 1pm over the holiday season, with an afternoon spike straight after lunch,” said CEO Kevin Sefton.

He also reported “Christmas being the start of the tax season is reflected in more Google searches for tax returns on 27 December than any other day in the last six months.”

About untied

untied is designed for the 12 million people in the UK who submit a personal tax return.

untied’s app gives people year-round control of their taxes. It finds information from existing bank accounts, sorts it, learns from it and saves tax for the user- all in real time. At the end of the financial year, it has the tax return ready to file, straight from the app.

untied are working with major app-based and high street banks as well as HMRC to simplify taxes for millions of people.

untied has enjoyed international accolades, winning Israel’s biggest Fintech Prize and being recognised in the recent FDATA Global Awards.

The London-based untied team have been backed by Barclays Accelerator programme powered by Techstars, and Accenture’s London FinTech Innovation Lab.

untied removes tax hassle, from gathering your data right through to submission. It’s available on iOS and Android. Visit www.untied.io for quick links to download untied through the app stores.

www.untied.io

Contact: Kevin Sefton contact@untied.io

Download PDF: untied Press Release 20200102 for website