TaxScouts

TaxScouts, based in the UK, specializes in simplifying Self Assessment tax filing for individuals and self-employed professionals by connecting them with accredited accountants for online tax return preparation and submission. Founded in 2017, TaxScouts operates from London, UK, offering a seamless online platform for tax return services. The company was started by Daniel Karger and Kaupo Kõrv. In addition to their core self-assessment services, they have recently expanded to serve limited companies.

TaxScouts has completed a total of 4 deals, with its latest funding round being a Series A, raising GBP 5. 000 mn led by Octopus Investments on July 2, 2024, which also included investments from Clocktower Technology Ventures, Finch Capital, Seedcamp, and Speedinvest. The total amount raised by the company is GBP 5. 000 mn, with a current valuation of GBP 23.

142 mn. TaxScouts provides comprehensive tax return services that primarily focus on streamlining the Self Assessment filing process for individuals and self-employed professionals in the UK. Their services facilitate online completion of tax returns, matching clients with accredited accountants who handle submissions to HMRC on their behalf. The company also offers one-off tax advice consultations to help clients comprehensively understand their personal tax situations.

Additionally, TaxScouts has expanded its offerings to include services for limited companies, allowing them to file annual tax returns online, thereby aiding a diverse client base such as freelancers and limited companies across the UK. TaxScouts utilizes a fixed fee model, charging GBP 169 for the preparation and submission of Self Assessment tax returns. This fee covers all aspects of the service, including VAT and support for any last-minute changes. Clients pay this one-time fee upon signing up, securing access to a dedicated accountant throughout the entire tax return process.

The company has structured its transactions directly with consumers, allowing for a seamless user experience while managing tax filings online. Furthermore, TaxScouts offers tax advice consultations at a singular price, ensuring clarity and predictability in its financial commitments. In July 2024, TaxScouts will be acquired by Taxfix GmbH, a strategic move that aims to enhance Taxfix's entry into the UK market and strengthen its presence in the European financial technology sector. Following this acquisition, TaxScouts plans to leverage the resources from the acquisition to further develop their product offerings and expand their market reach in the UK and beyond.

Specific upcoming product launches and geographic expansion plans will be defined post-acquisition, aligning with the strategic goals of Taxfix GmbH.