Moneyhub Launches API to Help Fintech Innovators Simplify Tax Returns for Landlords
- 15.10.2020 03:06 pm
Open Finance data, intelligence and payments platform Moneyhub, has transformed the ease and speed at which landlords can now file their HMRC Self-Assessment: UK property (SA105) form. Moneyhub’s Data & Intelligence API makes this new feature accessible to fintech innovators seeking to enhance their proposition for landlords.
Moneyhub’s API enables landlords to easily categorise transactions on the platform that relate to their property or other projects, meaning filling out income and expenditure details can be done seamlessly, quickly, and accurately. Innovators using Moneyhub’s API can make their customers lives easier, saving them time and money which can result in more engaged and loyal customers.
For landlords in particular, many of whom will have multiple properties within their portfolios, this feature will not only save time but also significantly reduce the chance of errors being made within tax returns. According to HMRC, 11.7m 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.
This new feature launched by Moneyhub is already being used by one of the UK’s biggest building societies.
Dan Scholey, COO at Moneyhub comments: “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.”
Other recent features available via Moneyhub’s API include ‘Projects’ which allows users to track and monitor all transactional activity and assets related to specific projects. Moneyhub has also launched ‘Transaction Attachment’, enabling users to easily upload, store and access attachments linked to transactions, such as photos, receipts, and warranties.