Open Finance platform Moneyhub has created a data and intelligence API in the hopes of transforming the ease and speed in which landlords can file their HMRC Self-Assessment: UK property (SA105) form.
Moneyhub’s API enables landlords to categorise transactions on the platform that relate to their property or other projects. For landlords in particular, many of whom will have multiple properties within their portfolios, this feature hopes to save time but also significantly reduce the chance of errors being made within tax returns.
According to HMRC, 11.7 million individuals were required to fill in a Self-Assessment tax return for the financial year 2018/19. However, filling a Self-Assessment Tax Return can not only be a lengthy process but if not done accurately can lead to an investigation from HMRC.
Dan Scholey, COO at Moneyhub, said: “Moneyhub isn’t just about aggregating and enhancing financial data, we help our clients to go to market faster with innovative features they don’t have to develop themselves. With this latest API, innovators have the power to truly revolutionise their clients’ experience when it comes to completing tax returns.
“Open Banking and Open Finance have the power to simplify financial management across the board and we are constantly innovating to do just that.”
This post has originally been featured in Property Wire.