Deductic is an online service which allows you to quickly and easily create an optimised tax return backed by world-class tax advice.
Deductic only guides you through the questions you need to answer based on your personal situation, which takes 9 minutes on average. For more complex cases, it could take you around 15 minutes.
We are part-man part-machine! We bring the best of humanity – personal marketers, qualified chartered tax advisers, chartered accountants, and tax lawyers, and tech developers – as well as the friendliest AI you’ve ever met
Your information is our information. Data security is our top priority and we use best-in-class data encryption to ensure your information is protected and securely transmitted to HMRC
No we do not offer traditional tax advice delivered by human advisers, but we have created automated software-as-a-service products that are continually updated with the latest changes in law and practice. These products are only created by qualified professionals – chartered accountants, lawyers, and chartered tax advisers. These products are an improvement on traditional advice as they are free from human error and judgment, are quick, and assimilate substantial collective knowledge into high-quality products.
You should only use software that has been recognised by HMRC. Deductic has been recognised as a self-assessment commercial software supplier by HMRC. You can see which software is recognised here: https://www.gov.uk/government/publications/self-assessment-commercial-software-suppliers/self-assessment-online-commercial-software-suppliers
We’ve made doing your tax return straightforward, simple, and in plain English. To get started, just click on Start Filing
You’ll start by selecting your income sources during the tax year and then you’ll be told upfront what documents you need to file your return. You can always come back later once you have gathered these documents.
Then you will move through a straightforward information gathering process where we will ask you tailored questions to maximise the tax deductions unique to your situation.
Once we’ve got everything we need from you, our algorithms will prepare your calculation. All you need to do then is confirm you would like to submit your return to HMRC. It really is simple as that!
We are not like other online software-as-a-service platforms that try to sell you a specialist service without the expertise. Deductic is actually designed by tax professionals that really know the UK tax rules and have real tax credentials!
Many online platforms that submit tax returns to HMRC on your behalf are run by people with little to no tax experience or qualifications. They may outsource your tax return to accountants and that means they need to charge you a higher fee including their mark-up. The accountants they source may not be qualified by a recognized body so you don’t know that they have the right experience or knowledge to really help you. They might also only cover limited situations.
It’s a similar story with traditional accountant – they may be a jack of all trades picking up tax returns at night along with a mix of other work during the day. And they’re still likely to cost you £100 plus. Alternatively, you may be paying through the roof for a top experienced tax adviser with a CTA qualification. In both cases, human error is sadly still a concern and mistakes or enquiries from HMRC can be costly in terms of your time and money.
Deductic is the new way to file your tax return online with the quality, knowledge, and experience of top tax advisers packaged at a reasonable price of just £40. We can do this by really using the combined power of technology and a belief that access to top quality tax advice should be available to everyone. We don’t just have a fancy webpage, but we actually have the skills you need too!
Use Deductic to save time, keep more of your hard-earned money, and ensure your tax return is actually correct!
You can file your tax return online on HMRC’s website for free. So why use Deductic?
The motivation for our entire company is to maximise tax deductions and reliefs for you by harnessing artificial intelligence and algorithms. And this is our key advantage over HMRC’s website. We will even find the best ordering for offsets and reliefs for your unique situation.
In addition, there are many things that HMRC’s online filing portal cannot do that we can! For example:
So you’ve filed your tax return online on Deductic and you want to know what’s next?
After your tax return is submitted to HMRC you can browse the tax tips personalized to you. We hope these practical tips can help you gain some tax efficiencies for the coming tax year because top tax advisers will tell you that the best planning is forward-planning!
You can download a report of the tax return information submitted to HMRC, and view the digital receipt from HMRC for the submission of your tax return.
To check the status of your tax return at any time, you can just login to your profile on our website. You can also double check by logging into your online tax account on HMRC’s portal (you may need to sign up for their government gateway service to access your account).
The current tax year is 6 April 2021 to 5 April 2022.
If you file using a paper tax return, the deadline is 31 October 2022.
If you file online, such as using Deductic, the deadline is 3 months later on 31 January 2023.
Whilst anyone can call themselves an accountant and technically help you with your tax return, it is no secret that tax can be taxing! Tax rules can be complex and they change quickly and frequently so you want to be able to rely on a service provided by properly qualified people.
The gold standard for tax advisers in the UK is the CTA qualification (https://www.tax.org.uk/members/cta-international-standard)
Other great qualifications for UK tax advisers include the ACA (https://www.icaew.com/ ), ICAS (https://www.icas.com/ ), ACCA (https://www.accaglobal.com/uk/en.html ), or legal admission as a barrister or solicitor.
There are also a number of other qualifications that a tax adviser may have – https://www.ccab.org.uk/choosing-an-accountant/
We have built a simple, easy-to-use, and fast platform for you. It is designed to work without needing any complex coaching. However if you need to contact us for technical support or any other reason, please email us at support@deductic.com
Deductic is building a platform of automated professional advice solutions. We believe in the power of combining algorithms, the blockchain, and AI with high-quality professional advice in order to provide accurate, quick, and affordable opinions on common situations. Our first three automated advisory products are for IR35, tax residency, and domicile. Our IR35 certification can be used by both employers and freelancers/contractors to determine their IR35 status and obtain a robust report that can be used to defend that status. Tax residency and domicile certifications can be used for a variety of situations, including for tax planning, understanding your potential tax implications, and for non-tax reasons including banking and in family law situations.
We know that it is sometimes nice to talk to an expert human adviser as you may have questions when completing your tax return. We have an assisted filing option where you can schedule a convenient time for you to complete your tax return during a live video call with one of our experts. Our expert adviser will walk through completion of your tax return using our filing service and answer any questions you may have along the way..
The tax summary highlights the key numbers in your tax return to make it easier for you to understand your financial picture. We give you the headline income and tax deductions as well as the tax liability and tax payable numbers. We also tell you exactly why you have opted to use Deductic this year (the Deductic advantages), showing what you got out of it!
The tax summary calculation will often be spot on, but if your situation is complex there may be rare instances where there are small discrepancies between numbers here and on the final submitted tax return to HMRC. This may be due to the performance of accuracy checks on complex calculations between the tax summary and submission to HMRC.
Yes we can help you submit your VAT Return - just use our automated service to submit it!
Our VAT service is built for Making Tax Digital (MTD) and using our VAT dashboard you can submit your VAT returns, look at outstanding obligations, and view past returns and payments.
Making Tax Digital (MTD) is an HMRC / UK government initiative that aims to transform the tax system - for taxpayers it means that tax returns (such as VAT and personal tax) will be put online and automated end-to-end. Software providers, such as Deductic, are recognized by HMRC to supply the applications for taxpayers to submit their returns.
Currently Deductic provides a VAT (MTD) service - MTD is not due to come into effect for personal tax returns until from April 2024.