Powered by Sage’s embedded technology, My Business Finances will enable eligible HSBC UK customers to manage their accounting and submit tax returns digitally directly from their HSBC UK business banking account. By bringing invoicing, accounting, and tax management into a single, integrated experience, the tool aims to reduce the complexity and administrative burden many small business owners face as the tax system becomes fully digital.

The launch comes as new research from Sage highlights a significant readiness gap among sole traders. According to the findings, 70% of sole traders are not prepared for Making Tax Digital, with one-third still tracking income and expenses using pen and paper and nearly two-thirds relying on spreadsheets to complete their Self-Assessment returns. The HSBC UK–Sage partnership is designed to address this challenge by providing practical, easy-to-use tools that help customers stay compliant, save time, and maintain control over their finances.

Through My Business Finances, customers can manage accounting and invoicing without switching between multiple apps or platforms, streamlining day-to-day financial administration within their existing HSBC UK business account.

“Small businesses are often incredibly ambitious but generally short on time,” said Tom Wood, Head of SME Business Banking at HSBC UK. “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, which is especially useful ahead of the new reporting requirements in April.”

Gordon Stuart, SVP, 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 financial management effortless and accessible. This unified experience delivers trusted accounting and tax tools within the platforms business owners already use every day.”

The launch of My Business Finances builds on a broader set of initiatives from HSBC UK aimed at supporting small businesses. In July 2025, the bank introduced a no monthly account fee for its Small Business Banking Account, alongside free UK digital banking and access to Business Specialists. HSBC UK also operates the HSBC Small Business Growth Programme, a free, open-to-all platform offering training, events, and expert insights to help entrepreneurs grow and succeed.

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