SimpleTax will change the way you do taxes – Startup of the Week

Welcome to the tenth episode of the Elevator Pitch series 4.

Every week we publish a 30 second pitch from the latest intake of the Elevator Pitch. These leading startups join an alumni group that includes the likes of YPlan, Hassle, import.io and Glow, and has to-date raised over $36m.

In this series we took the founders on a cab ride unlike any other for the most exciting pitch of their lives.

No more nasty surprises

SimpleTax is a startup that does pretty much exactly what it says on the tin.

In the words of founder and CEO Celso Pinto:

SimpleTax is the smart, free way to get your taxes done properly even if you’re not an expert.

SimpleTax is automatic

No one likes doing their taxes. It’s hard, it’s complicated, and you’ll inevitably get it wrong.

Launched in 2013, SimpleTax’s platform automatically flags potentially-missing tax deductions, makes tax-saving recommendations and even points out potential mistakes as you do your taxes.

The information is based on what others like you claim on their returns and on tax expert advice that has been built into the software.

It is recognised by HMRC, which helps it make doing your taxes as smooth as possible.

Personal experience

The idea behind the startup came about from Pinto’s own experience with doing his taxes.

Working as a sole trader, he struggled to find the answers he needed in tax manuals and ended up with some nasty surprises when he did it wrong.

We aim to be the alternative to HMRC’s online service.

Every year over 4.5 million sole traders need to decide whether to spend their hard won money on tax preparation services, or go with HMRC’s free service and risk doing something wrong.

SimpleTax is a free alternative that sits right in the middle of the two.

More than tax

The startup has already received funding from EC1 Capital, Seedcamp, and Charlotte Street Capital as well as a group of business angels.

The team has plans to move beyond tax, hoping to find users savings in other parts of their life. Pinto explains:

If you’re overspending on insurance, utilities, etc, SimpleTax will recommend a provider switch, like an advisor would do.

If you accept that recommendation and switch, we may be paid a small commission.