New Consumer Fintech Simplifying Tax Returns, Taxd, Receives Pre-Seed Funding

Consumer fintech company, Taxd, has announced the receipt of pre-seed funding to aid in its mission of helping people and businesses efficiently complete tax returns. Taxd is making tax returns self-serve, simplified, personalised, 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 with understanding tax compliance.

Recognised by HMRC, Taxd helps clients seamlessly fill out and submit their self-assessment forms and online tax returns with maximum efficiency. Each year, 13 million people fill out an HMRC self-assessment form in the UK, which can be confusing, time-consuming, and costly if done incorrectly. For millions of sole traders and landlords, these annual tax returns are about to turn quarterly, along with the complexity that goes with them. Increasingly demanding legislation means tax planning and advice are becoming increasingly expensive.

“Our goal is to make tax easy for people and businesses through the use of technology & 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 with understanding tax compliance.”

Co-founder, Eamon Shahir adds: “Taxd will soon be able to cover 100% of UK tax cases, providing exceptional results for a fraction of average high street accounting fees. Our investors understand our vision and know how to harness and grow entrepreneurial vigor. We truly 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 residence 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 to manage personal, freelance, and business tax returns. The company is on a mission to make the tax process intuitive and informative for its users. Taxd is focusing on building out functionality to make tax compliance completely autonomous – taking out the costly and stressful pain points that many people experience.

Taxd is recognised by HMRC and supervised by the Chartered Institute of Taxation.