Even though many things have come to a halt right now, your tax return deadline hasn’t. It is one of those mundane tasks that tends to get pushed out until the very last minute, however at some point it just has to be done. So, what better time than a lockdown to sit down and finish them off in one go? Without wasting another minute, here’s a list of TaxTech startups, who can help make your next tax session a breeze.
Taxfix -Berlin-basedTaxfix, founded in 2016, currently has a team of 100 employees and provides a desktop and mobile solution for the preparation of tax returns. By answering a list of their questions and taking a picture of your annual payslip, you can file your taxes within a time frame of around 20 minutes. A few weeks later, you’ll receive your tax return assessment and your money back — the average refund is €1,007. This efficient little tax tool is free of charge until you submit the taxes, making it easy to try and see if it truly is your cup of tea.
Wundertax— Also based in Berlin,Wundertaxis a fintech company that was founded in 2015 and provides online tax return filing and other related services. After choosing your style of occupation (expat, employee, freelancer etc.) on the first page, you will be guided through a list of questions relating to your specific situation and employment type. You can get up to get back up to €3,000 in taxes, although the average is around €1,000. Wundertax is a climate-neutral company providing you with a carbon-neutral tax return.
Taxly— Taxly is one of the new kids on the TaxTech block, having been founded early this year. The Swiss company, based in Zurich, is on a mission to reinvent the entire tax experience. They have managed to consolidate tax requirements from over 26 cantons (each of them having different laws in place) to create a customer-centered, legacy-free system for Swiss residents to do their taxes. With their 2019 calculator, you can estimate how much your taxes could be, before completing your full tax return through their application.
Accountable — The Belgian based fintech startup Accountable isn’t a typical tax refund tool, but a holistic mobile app to help you become self-employed. It helps you connect expenses, and to create and manage invoices, paired with information on VAT and tax deductibility. The goal is to help you optimize your taxes early on in your business processes and manage it all from beginning to end. Theirblogalso has many resources, tips, and tricks for students, budding entrepreneurs, and professionals ready to take the plunge in to being self-employed.
TaxScouts—The London-based companyTaxScouts(founded in 2017) has created an online solution paired with professional accountants, aiming to merge both worlds. In other words, it combines repetitive, automated tasks with the know-how of professional accountants’ expertise, in one slick service. Founded by Transferwise and MarketInvoice alumni, the 20 person startup has raised over €1.7 million and is well-equipped to make taxes great again. With a one-off, flat fee of €135, you can get your full tax assessment and all the support you need, including any last-minute changes.
If doing your taxes in such an easy way has suddenly gotten you all fired about the TaxTech space, the first Austrian TaxTech conference will be happening at the end of this year in Vienna and if you have any favorite tax tools let us know in the comments.
By the way: If you’re a corporate or startup struggling to make your digital financial product user friendly, we can help.
This article was originally published on EU Startups on 15th April 2020.
Monica Ray Scott
Monica Ray Scott