This brand new app will make filing taxes so much easier
Bored of managing your personal finances? Pie is a first-of-its-kind app that can manage invoices, track your tax deductions and even file your yearly tax return.
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- 7 November 2023
Let’s face it: dealing with tax returns is time consuming and laborious. So why put yourself through it? Launching this month, Pie is a brand new app that will manage all the fiddly admin, and even submit your tax return at the end of the financial year. The first app of its kind, Pie merges online banking technology with a slick and easy-to-use UX design to calculate and visualise your tax deductions in real time.
According to research conducted by Pie, 73 per cent of self-employed people surveyed stated that tax management is their biggest mental health strain. As a result, £20 billion of refunds remain unclaimed each year. With rising inflation and the cost of living crisis, these figures are only getting worse.
The lack of understanding around the tax process in Britain is endemic. In Pie’s research, 36 per cent of people said it’s the one topic in life they understand least. Plus, in the last decade, the number of self-employed people in the UK has grown by almost 80 per cent, making up around 10 per cent of the country’s working population. With higher living costs tugging at household finances, it’s never been more important to stay on top of personal finances.
So how does it work? After downloading Pie, you will be asked to connect your personal tax account or upload your invoices. After tethering the app to your bank account via open banking, Pie will automatically analyse your income and expenses, and you’ll be able to view your tax deductions and track spending. At the end of the financial year, you can submit your tax return straight through the app, and that’s it – easy as pie.
The app includes several other key features, including bookkeeping, a live return tracker and invoice management. It also comes with a personal tax assistant, available through a live chat. This year, HMRC estimated that 65 per cent of calls to its self-assessment helpline occurred during the two weeks before 8 January – that’s three weeks before the tax deadline. This indicates a clear lack of understanding and support, especially when it comes to personalised assistance. Through Pie, users can chat to an expert at any time of the year. These advisers are sector specific, with years of knowledge and experience, so users will receive tailored feedback no matter what industry they work in.
Pie feels like a simple solution to your tax anxieties, ensuring you’re not faced with any nasty surprises at the end of the year. You can find out how much you’d save through Pie’s website, which features a simple earnings toggle and quick questionnaire that will predict your savings. Remember, it’s not just money that you’re conserving, it’s time. And thanks to Pie, you can spend less of it managing taxes and more being creative.
“Pie aims to democratise tax for the masses by making it easier and cheaper for anyone to have the power over their taxes, as we recognise how much stress and anxiety they can cause,” notes Pie founder and CEO Tommy McNally. “We’re proud of the product we have built as we truly believe that it’s the solution that’s been missing.”
GalleryImages copyright © Pie, 2023
(Copyright © Pie, 2023)