How Taxmo works: from receipt to VAT return

Taxmo is bookkeeping and tax software for UK sole traders, freelancers and small businesses. You tell it about your business, add your records, check what it fills in, and file your VAT return to HMRC over Making Tax Digital.

The six steps

Tell us about your business. Your business type and your VAT details, so the dashboard and reminders fit you.

Add your records. Send a receipt by photo, WhatsApp or email, bring in bank transactions, import an Excel or CSV file, or type an entry by hand.

Check what Taxmo filled in. Taxmo suggests a category and VAT for each record. Bank transactions wait for your approval, emailed receipts are flagged for review, a photo is saved once you have checked it, and a WhatsApp receipt is booked straight away for you to edit if anything is off.

See what to set aside. A running figure for VAT and tax, so the bill is never a surprise.

Review before anything is sent. The VAT return is laid out box by box, with the entries behind each figure, before you file.

File to HMRC and see what is next. The return goes over Making Tax Digital. Taxmo then shows the next deadline.

The features behind each step

Which plan includes which feature is on the pricing page, and every feature is listed on the features page.

  • Bank import: Bring in transactions by Open Banking connection or CSV statement upload, approve what counts, then match them to your entries.
  • Receipt capture: Photograph a receipt or send it by WhatsApp or email and Taxmo reads the supplier, VAT number, amount and VAT rate for you. Photo and WhatsApp are on Starter and Pro, email on Pro.
  • Spreadsheet import: Bring income, expenses, sales invoices, contacts and products over from an Excel or CSV file, with a preview before anything is saved.
  • Invoicing: Create invoices and quotes from the same records your VAT return is built from, send them with your own subject line, and follow each from draft to paid.
  • Mileage: Log business journeys by vehicle and apply the HMRC approved mileage rates.
  • VAT returns: The nine boxes are worked out from your own figures and filed to HMRC over Making Tax Digital.
  • Deadline reminders: A reminder ahead of each VAT date, on Starter and Pro. Check the dates for your own year on GOV.UK.
  • Time and projects: Track billable hours, link them to invoices and see the profit on each project. On Pro.
  • Taxmo AI: Ask a UK tax question and get an answer in plain English. Full assistant on Pro.

Common questions

Do I need an accounting background to use Taxmo?

No. Taxmo asks about your business, reads your receipts and shows every figure before anything is filed. For advice on your own situation, speak to an accountant or check GOV.UK.