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What is Countingup?
Countingup is a comprehensive financial management platform designed specifically for UK small businesses. It integrates a business current account with automated accounting and tax features into one streamlined application. The tool uses SmartTax AI to handle tax calculations, categorise transactions automatically, and provide real-time tax estimates based on income and expenses.
Businesses can send personalised invoices, track payments, capture receipts digitally, and file VAT returns directly through the app. Countingup offers financial reporting, insights, and reminders for tax deadlines, all while ensuring security with features like biometric logins and 24/7 fraud support. It simplifies financial administration by eliminating the need for multiple software tools.
Features
- SmartTax AI: Automatically categorises transactions and calculates taxes in real-time
- Integrated Accounting: Combines banking with automated bookkeeping and financial reporting
- Tax Management: Sets aside tax funds automatically and flags eligible tax allowances
- Invoicing Tools: Creates and sends personalised invoices with payment tracking
- Receipt Capture: Allows digital snapping and storage of receipts for tax purposes
Use Cases
- Managing business finances and accounting for small UK businesses
- Automating tax calculations and VAT filing for sole traders and limited companies
- Streamlining invoicing and payment collection for freelancers and contractors
- Tracking expenses and receipts digitally for tax season preparation
- Providing real-time financial insights and reports for business decision-making
FAQs
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Is Countingup regulated and safe to use?
Yes, Countingup operates as an agent of PPS, which is regulated by the Financial Conduct Authority (FCA) and protects funds through safeguarding processes. -
What is included in the free trial?
The free 3-month trial includes access to all features of the business current account, accounting tools, and tax management services without subscription fees. -
Can I deposit cash with Countingup?
Yes, you can deposit cash at over 27,000 PayPoint and Post Office locations nationwide using your Countingup card. -
Does Countingup support VAT filing?
Yes, Countingup offers free and fast VAT filing directly to HMRC through the app at no extra cost. -
How does the SmartTax AI feature work?
SmartTax AI automatically categorises transactions, updates tax estimates in real-time based on income and expenses, and flags tax allowances your business qualifies for.
