Tue, Oct 15 2024

FreeAgent expands tax calculation to NatWest accounts

March 19, 2024
2 Min Reads

All NatWest Group customers now have access to the cutting-edge in-app smart tax computation feature of FreeAgent, the award-winning accounting software for small businesses and their accountants, within their business banking app.

With this connectivity, business owners at Ulster Bank, NatWest, and Royal Bank of Scotland will be able to monitor their taxes in real time, which will help them manage their finances.

By removing the uncertainty surrounding the amount of taxes that business owners will likely owe each year, the tax calculation feature—which is free for all NatWest, RBS, and Ulster Bank customers—will help them feel more confident about their taxes. By providing a real-time view straight in their banking app, it will assist clients in staying on top of their taxes.

 

FreeAgent automatically computes the taxes applicable to a customer's business as they finish their bookkeeping duties and shows them an updated view of their tax situation in their banking app. This covers VAT, Corporation Tax, and Income Tax.

The tax computation tool was first made available only with Mettle, a free business bank account designed by NatWest for independent contractors, in late 2023. NatWest is extending it to all of its business banking customers with a FreeAgent account because of its popularity and success with Mettle customers.

 

"We hope that small business owners will have better clarity over their accounts and feel smarter and more confident about their finances with this integration of our smart tax calculation within NatWest, RBS, and Ulster Bank accounts," says Roan Lavery, CEO and co-founder of FreeAgent. Customers will be freed up to focus on what they love—managing and expanding their businesses—by eliminating the uncertainty surrounding their tax obligations.

With this capability, customers can monitor their business finances in real-time and have a better understanding of their tax situation. FreeAgent and NatWest are demonstrating their continued commitment to providing the most inventive connectivity between accounting software and bank accounts.

 

"We look forward to creating more seamless journeys for our shared customers to make banking and accounting more intuitive and integrated as we continue to build and evolve our ecosystem with NatWest."

Furthermore stated by James Holian, Head of Business Banking at NatWest Group: "Although tax returns are an inevitable aspect of running a business, that doesn't mean they're fun. We are assisting businesses in understanding their tax obligations so they can take an active approach to managing their business finances by collaborating with FreeAgent to integrate their tax calculation feature into our business bank accounts.

All of this is a part of our strategy to provide companies with real-time financial insight so they can concentrate on managing and expanding their enterprises.

 

Anyone with a business current account with NatWest, Royal Bank of Scotland, Ulster Bank, or Mettle can use FreeAgent for free.

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