untied - tax in real time

Set up
Tax calculation to set parameters
Set limits
Confirm sweep as you earn
Pay HMRC from sweep

This project was put together by the team at untied and our friends.

Inspiration

Together we make 43 million tax payments to HMRC each year. The majority are based on guesswork. People want to know what they need to pay - and are happy to set money aside.

What it does

We have built a tax sweep incorporating untied's tax calculator API in order to set aside tax for when it's due.

How we built it

This was built based on untied's existing web app front end, with tax sweep incorporated.

Challenges we ran into

We needed to build new end points internally to handle some of the tax-sweep related calculations.

Accomplishments that we're proud of

That this is integrated into a tax platform, and is ready to go. We like that we included the concept to use the tax pot to pay HMRC - building on our existing capability in this area.

What we learned

When we did the demo, even tax professionals said "you've got the tax percentage wrong - it's too high". They double checked it and said "it's right". This is a real-world reflection of how hard it is to get the right amount of tax set aside.