Tide partners Sage to offer new tax and accounting product

UK-based business financial platform Tide has announced a partnership with Sage, a cloud business management platform, to offer an integrated banking and account product for Tide members.

Tide partners Sage for new accounting product

Through the partnership, the UK’s self-employed and business owners will have a new product that combines banking and accounting in a single digital environment.

By connecting Tide’s tools and data to Sage’s new accounting and compliance as a service platform (ACaaS), Tide members will be able to streamline financial and tax compliance processes, such as self-assessment and year-end accounts.

Tide says its new offering will reduce the “time and stress of traditional accounting” for its customers.

It adds that by building in accounting and taxation into Tide’s mobile and web platforms, small businesses will be able to stay compliant, avoid penalties and make better business decisions.

“Many entrepreneurs are held back from starting a new business by fears around getting their tax right,” says Neal Watkins, executive vice president of small business at Sage.

“With this new offering, accountancy and compliance will become a simple and seamless service, meaning that the business owner can sleep easy knowing that they’re getting their tax right and making well-informed decisions.”

Tide says it will trial the accounting and compliance solution with its 340,000 members later this year.