Starling also manages companies' digital tax returns

The British Bank Starling continues to enrich its value-added services in order to consolidate its status as an alternative player in financial services. Its last service is aimed at businesses this time to help them manage their tax returns in a period of transition and the involvement of new mandatory digital tools in processes. The British bank is now buying a specialized company to diversify.

FACTS

• Starling Bank has just concluded an agreement to buy Ember, a UK-wide platform for accounting and tax management for small businesses.

• Ember offers, among other things, software recognized by the HMRC (Her Majesties Revenue & Customs), which will be integrated directly into Starling's online banking application and services, thus facilitating the management of transactions, accounting and tax obligations for professional customers of the UK bank.

• By 2026, Ember will also be exclusively accessible to Starling's professional customers; Ember's accounting consulting services will be stopped.

ISSUES

• Anticipating regulatory developments The acquisition of Ember by Starling took place ahead of the new obligation on British companies from April 2026. On that date, self-employed and SMEs will be required to make their tax returns digitally in the United Kingdom, as part of the government's regulatory programme.Making Tax Digital- Yeah. Starling Bank points out that many individual entrepreneurs and SME managers are not yet ready to report their taxes online. By purchasing Ember, the bank aims to facilitate compliance of the companies concerned by the new legislation. Starling Bank takes advantage of this stress It currently covers 9% of the UK market share of banking services for small businesses.

• Enrich its offer The Ember solution is part of Starling Bank's strategy to enrich its suite of services to SMEs as well as individuals. The launch of this digital tax reporting tool follows that of the tool "Spending Intelligenceby the British bank. It is intended for individuals this time and aims to push the boundaries of the MTP.

PERSPECTIVE

• The acquisition of Ember by Starling Bank marks Starling's first acquisition since that of Fleet Mortgages in 2021. It is part of the group's growth strategy, both in the UK and internationally, and aims to highlight its sound financial health.

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