While working as accountants at PwC, we were on a traditional, well-trodden path toward a stable career in a renowned firm. However, through our work we spotted that taxes could be done differently and that there was an opportunity to use technology to make accountancy more affordable and accessible. Once we realised that there was no opportunity to develop the technology within the environment we were in, so we took a leap of faith and founded Taxd to cater to a gap in the market.
With the help of James Green, tech whizz and Co-Founder, we took our idea from a document to build a piece of technology that is transforming the way tax returns are done in the UK and beyond.
What is Taxd?
Taxd is a user-friendly, affordable solution that empowers taxpayers to file their returns efficiently and accurately. By automating much of the process and providing expert guidance, Taxd significantly reduces the time and cost associated with tax preparation. This is particularly beneficial for expats, who can save substantial sums compared to traditional international tax services.
A unique feature of Taxd is its ability to identify potential tax relief opportunities, maximising savings for users. To build trust in a relatively new field, Taxd combines cutting-edge technology with human expertise, offering a hybrid approach that ensures both efficiency and accuracy.
Initially focused on personal tax returns, Taxd has expanded its services to cater to solo entrepreneurs and small limited companies as well as expats.
Growing our business
To date, Taxd has saved individuals over £4.25 million in accountancy fees and inefficiencies, with businesses saving an additional £500,000. Since launch, more than 15,000 tax returns have been filed through the platform – a figure projected to grow to 50,000 within three years.
The company’s revenue is set to grow 2.5x this year, with similar projections for 2026. A key growth driver has been demand from overseas investors and expats. Within three years, Taxd expects to capture 10% of the overseas market and 50% within 10. Further expansion will be fuelled by Making Tax Digital, an upcoming government scheme requiring all tax returns to be done digitally through technology like Taxd.
What’s next for Taxd
Taxd is in a rapid growth phase. We are always refining and improving our offering, most recently developing a product specifically targeted to British expats who need to file taxes both in the UK and their country of residence. This product makes filing in multiple markets quicker, easier and cheaper and has opened up the business to other global markets, specifically Spain and the Middle East..
In addition, we plan to expand our B2B offering, helping accountants to work more efficiently, particularly with Making Tax Digital around the corner. This is extremely helpful to those who use junior staff or off-shore centres as no training is required to use Taxd and it will help UK accountants save time and allow more time for value added services.
To date, we have always expanded our products and services according to the requirements of our customers. As we continue to grow our offering, we will keep speaking to customers and building what they really need to make their taxes more manageable.
Arjun Kumar and Eamon Shahir, Taxd Co-Founders