The partnership will provide UK self-employed and business owners with a new product that combines banking and accounting in a single digital environment. By connecting banking data and Tide's existing finance and admin tools to Sage's new accounting and compliance as a service platform (ACaaS), Tide members will be able to streamline financial and tax compliance processes, such as self-assessment and year-end accounts.
According to Business Wire, Tide's partnership with Sage will offer an accounting tool from the Tide app, that will provide members with compliant accounts and insights about their businesses to reduce the time and stress of traditional accounting.
Tide will trial their accounting and compliance solution with its 340,000 members later in 2021.
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