SumUp has announced the launch of an embedded accounting offering within its platform, powered by Sage, designed to help UK sole traders comply with Making Tax Digital for Income Tax (MTD for IT) ahead of the government rules coming into force on 6 April 2026.
The new offering is available at no additional cost to SumUp users and enables sole traders to manage Income Tax Self Assessment obligations entirely within the SumUp web interface. Income and expenses are automatically recorded and categorised in real time, drawing on payment, invoice, expense, and banking data already captured within the SumUp ecosystem, including cash transactions. The solution provides a framework for quarterly HMRC submissions and enables users to prepare and file directly to HMRC from within the platform. A real-time tax liability estimate is also included to support cash-flow planning.
Regulatory context and market readiness
From 6 April 2026, sole traders with annual income exceeding GBP 50,000 will be required to record income and expenses digitally and submit quarterly reports to HMRC, replacing annual Self Assessment tax returns. Research by Sage indicates that 70% of sole traders are not yet prepared for the change, with many still relying on pen and paper or spreadsheets.
Compared to conventional bank-led solutions that capture only digital transfers, SumUp's integration automatically covers all revenue streams without manual input. Business expenses paid with the SumUp card can be captured alongside uploaded receipts, with supporting documentation stored against each transaction. New users can also import historical bank data to facilitate a smooth transition to digital reporting.
The launch marks SumUp's entry into the accounting market, extending the platform's capabilities beyond payments, invoicing, and business banking into tax compliance and financial management.
Commenting on the news, Felix Lamouroux, SVP Global Banking at SumUp, said the company's existing data infrastructure places it in a unique position to help merchants comply with MTD for Income Tax without additional cost or complexity. Further expanding on this, Gordon Stuart, SVP Fintech and Embedded Services at Sage, noted that the collaboration brings income tax reporting into everyday workflows, helping sole traders meet their obligations without specialist knowledge or additional software.
