TaxScouts offers a web app that walks users through their tax status, income and expenses, asking them to upload or photograph documents which are packaged for an assigned accountant to check. The service combines automation with human accountants and charges a flat fee (currently £119 in the U.K.) with typical turnaround of 1–2 days. The company aims to build a pan-European tax filing service, launching first in Spain where it has appointed a Madrid-based country manager. Spain was chosen for its market size and complex tax system; TaxScouts says that market is double the size of the U.K. The new funding will be used to develop the Spanish service and to make key hires across engineering, product and marketing. The product is positioned to simplify filing for users with limited tax knowledge by digitizing admin and streamlining accountant review. TaxScouts offers an online personal income tax preparation service that combines automation and work by certified accountants to deliver personalized self-assessments. The company allows taxpayers to have their self assessment prepared online for £99. TaxScouts is led by co-founder and CEO Mart Abramov, CTO Dan Karger, and CDO Kaupo Kõrv. The startup intends to use the funds to expand operations and to grow its operations and marketing efforts. The article identifies the company as based in London, UK. No revenue or user metrics were disclosed in the article. TaxScouts offers an online service that automates administrative tax-preparation tasks and pairs users with certified accountants who submit self-assessment tax returns. Its web app walks users through tax status, income and expenses, allows upload or photos of documents, and packages the data for an assigned accountant. The company charges a flat fee of £99 if paid in advance and promises a 24-hour turnaround. Typical customers include self-employed individuals, freelancers, entrepreneurs and company directors, gig-economy workers, and investors eligible for tax relief or refunds. TaxScouts currently integrates with HMRC and plans to expand automation by plugging into more data sources (for example, pulling Uber data for mileage claims or integrating with fintech transaction/receipt tools). The startup has raised £300,000 in pre-seed funding to continue building out the product.

Total raised

$8M

Funding rounds

3

Latest round

Series A

Latest activity

Aug 2020