HSBC embeds Sage’s accounting technology in new tool for UK small businesses

Source: PR Newswire

As part of HSBC UK’s big support for small businesses, the bank is launching a new tool to help business owners and sole traders get ahead of the Government’s Making Tax Digital for Income Tax (MTD) changes coming in April.

Powered by Sage’s embedded technology, HSBC UK’s My Business Finances will allow eligible customers to manage accounting and submit tax returns digitally directly from their HSBC UK business banking account, reducing the complexity many small business owners face as MTD approaches.

Sage research shows that seven in 10 (70%) sole traders are not ready for Making Tax Digital, with a third still tracking income and expenses using pen and paper and two-thirds relying on spreadsheets to complete their Self-Assessment returns.

This partnership is designed to address this readiness gap ahead of MTD, offering practical support to help customers stay compliant, save time, and remain in control of their finances as the tax system becomes fully digital. Through My Business Finances, customers will be able to manage their accounting and invoicing from inside their HSBC UK business account, without the need to switch between apps or platforms.

Tom Wood, head of SME business banking at HSBC UK, said: “Small businesses are often incredibly ambitious but generally short on time. As a leading and trusted SME banking partner, we’re always looking at where owners can be more efficient so they can focus on growing their business.

“Tax compliance can be both time-consuming and costly – HSBC My Business Finances will take care of a business’ invoicing, accounting and tax compliance all in one place. This is especially useful ahead of new tax reporting requirements in April.”

Gordon Stuart, senior vice president, fintech and embedded services at Sage, said: “Small businesses and sole traders want to focus on doing what they do best, without the burden of complex admin.

“By embedding Sage’s trusted accounting and tax capabilities directly into HSBC UK’s business banking account, we’re making managing finances effortless and accessible.

“Powered by our embedded accounting technology, HSBC UK can deliver trusted accounting and tax in one unified experience, within the tools business owners already use every day.”

This is the latest in a raft of support measures for small businesses banking with HSBC UK. In July 2025 the bank introduced a no monthly account fee on its Small Business Banking Account to accompany free UK digital banking and free access to Business Specialists.

The bank also runs the HSBC Small Business Growth Programme – a free, open-to-all platform offering training, events and expert insights designed to give entrepreneurs the tools to grow and succeed.

The new My Business Finances tool will first be available to sole traders and landlords ahead of the Making Tax Digital changes.

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