untied, the UK’s personal tax app, today announced that one of its users made the first-ever open banking-enabled tax payment to HMRC.
This landmark payment was powered by untied’s partner, Fractal Labs as part of the companies’ SMART (SMEs Manage Accounts Receivables and Tax) initiative, backed by the Banking Competition Remedies Capability and Innovation Fund.
Making an open banking payment to HMRC using untied’s service ensures that the payment reaches HMRC directly; quickly and securely. This method of payment reduces the risk of errors and fraud by removing the need to enter HMRC’s bank account number or sort code. untied’s users can now authenticate the tax-payment directly from their own mobile or via online banking through a seamless end-to-end process. The service is currently in private beta and will be rolled out in the coming months.
More: Paying HMRC with untied.