Lloyds, part of Lloyds Banking Group, has teamed up with BankiFi, a banking technology platform, to offer small businesses a free Making Tax Digital (MTD) for Income Tax solution embedded directly within its business banking app.
The tool is available exclusively to Lloyds Business Account holders at no cost and with no subscription fee. Built on BankiFi’s technology, it has been integrated into the Lloyds Business Account to help sole traders and landlords meet MTD for Income Tax regulations, which came into effect on 6 April 2026. These rules require eligible individuals to maintain digital records and submit quarterly reports to HMRC, both of which can now be completed through the Lloyds banking app.
The HMRC-recognised tool allows small businesses to move away from spreadsheet-based approaches and transition to a fully digital accounting solution linked to their bank account. Alongside digital record-keeping, the tool supports quarterly submissions to HMRC, provides estimated tax views, and facilitates end-of-year filing.
Lloyds BCB client strategy & commercial director Ruchir Rodrigues said, “Small businesses are looking for simple, cost-effective solutions that save time. By working with BankiFi to embed our Making Tax Digital tool within the Lloyds Business Account for free, customers can manage their tax administration directly within their banking app, without needing a separate accounting subscription.”
BankiFi CEO Mark Hartley said, “This partnership is about delivering exactly what small businesses need, and in turn making Lloyds the best bank for businesses. Our platform enables Lloyds to quickly introduce the functionality customers want, while creating the foundation to continuously evolve their proposition in line with changing customer demand.”
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