Overview
- The new service, called My Business Finances, lets eligible customers manage bookkeeping, invoicing, accounting and submit tax returns from inside their HSBC UK business account.
- Built on Sage Embedded Services, the integration delivers accounting and tax functions within the bank platform without requiring separate software.
- The first wave targets those earliest affected by Making Tax Digital for Income Tax, with HMRC shifting qualifying taxpayers to digital record-keeping and quarterly updates from 6 April 2026.
- HSBC says consolidating tasks in one place will reduce time and costs for small firms as spreadsheets and manual processes fall short of HMRC’s “digital links” requirements.
- Sage-backed research finds 70% of sole traders are not ready for MTD, with many still using pen and paper or spreadsheets, underscoring demand for embedded compliance tools.