HSBC UK is stepping up its support for small businesses with a new tool designed to help owners get ahead of the Government’s Making Tax Digital (MTD) changes, coming into effect on April 6, 2026. Its My Business Finances, powered by Sage’s embedded accounting technology, allows eligible customers to manage accounting, invoicing, and tax returns directly within their HSBC UK business banking account, reducing the complexity many small business owners face as MTD approaches.

Sage research shows that 70% of sole traders are not ready for MTD, with a third still tracking income and expenses on paper and two‑thirds relying on spreadsheets for Self‑Assessment returns. By embedding Sage’s tools into HSBC UK’s digital banking platform, My Business Finances aims to close that readiness gap, offering practical support to help customers stay compliant, save time, and remain in control of their finances as the tax system becomes fully digital.

How It Works

Eligible customers can manage accounting and invoicing from inside their HSBC UK business account without switching between apps or platforms. The integration provides market‑leading accounting, invoicing, and tax submission capabilities, automating many manual tasks associated with MTD.

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, SVP of Fintech & Embedded Services at Sage, added: “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.

Broader SME Support

The launch builds on HSBC UK’s wider small‑business initiatives. In July 2025, the bank removed monthly fees on its Small Business Banking Account and offers free UK digital banking and access to Business Specialists. The HSBC Small Business Growth Programme provides free training, events, and expert insights to help entrepreneurs succeed.

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