FreeAgent, the award-winning accounting software for small businesses and their accountants, has expanded its innovative in-app smart tax calculation functionality to be available to all NatWest Group customers within their business banking app.

This integration within NatWest, Royal Bank of Scotland, and Ulster Bank business bank accounts will give business owners a real-time view of the tax they owe, supporting them in managing their business finances.

The tax calculation feature, which is available for free to all NatWest, RBS, and Ulster Bank customers who opt to connect their business account with FreeAgent, will help make business owners more confident about their taxes by taking the guesswork out of how much tax they are likely to owe each year. It’ll help customers stay on top of their taxes by showing a real-time view directly in their banking app. 

As a customer completes their bookkeeping tasks, FreeAgent instantly calculates the taxes relevant to their business and provides the customer with an up-to-date view of their tax position in their banking app. This includes Income Tax, Corporation Tax, and VAT.

The tax calculation tool was initially launched as an exclusive feature with Mettle - the free business bank account built for the self-employed by NatWest - in late 2023. Due to its popularity and success with Mettle customers, NatWest is expanding it to all of its business banking customers with a FreeAgent account. 

Roan Lavery, CEO and co-founder of FreeAgent, comments: "With this integration of our smart tax calculation within NatWest, RBS and Ulster Bank accounts, we hope that small business owners will have better clarity than ever over their accounts and feel smarter and more confident about their finances. By taking the mystery out of how much tax they owe, customers will be freed up to do what they love - running and growing their businesses.

“This feature shows how FreeAgent and NatWest continue to deliver the most innovative integration between accounting software and customer bank accounts - giving a real-time view over their business finances and helping them better understand their tax position. 

"As we continue to build and evolve our ecosystem with NatWest, we look forward to creating more seamless journeys for our shared customers to make banking and accounting more intuitive and integrated."

James Holian, Head of Business Banking at NatWest Group, added: “Tax returns are a necessary fact of life for businesses, but that doesn’t mean they are enjoyable. Working with FreeAgent to bring their tax calculation functionality into our business bank accounts, we are helping businesses to understand their tax owed so they can be proactive about their business finances. 

“It’s all part of our plan to give businesses real-time insight into their finances, so that they can focus on running and growing their businesses.”

FreeAgent is available for free to anyone with a NatWest, Royal Bank of Scotland, or Ulster Bank business current account, or a Mettle bank account.