FAQs

This is my first time filing – which plan do you suggest?

Take our quiz! As a first-timer, taxes can seem overwhelming. You may feel like you have a lot of questions, ranging from the seemingly simple to more complex queries. This is totally normal, which is why we designed our Complete package the way it is. It allows you to ask whichever questions you want, as often as you need to – so you’re never left fumbling in the dark over your taxes. Your Finmo Tax Expert is here to help.

Why would I choose Lite instead of Complete?

If you’ve ever felt like you’re paying your Accountant too much for the value they bring to the table, our Lite package could be for you. Typically, Members choose this package if it’s not their first time filing and their tax situation is straightforward. It’s a great option for those who are looking for the peace of mind of having someone to check over their tax submission, but who don’t need as many in depth explanations.

What if I’ve been using a different expense and income tracker?

No worries. If you wanted to import your data without using Finmo’s tracker, we can do that for you. Since this is something we have to do manually, we need to charge for our time, but it’s only £25 + vat.

What if I don’t want to use Finmo’s app and just want to send in my expense list?

No problem, same as the previous question – it’ll cost just £25 + vat.

What if I need an Accountant to do some research based on my specific situation?

In most cases, our Accountants have the answers they need at their fingertips. However, some people have very specific situations that may require some more in-depth research. In these cases, we’ll do one of two things. We can refer you to someone in our network who specialises on the topic in question or will charge you a one-time fee for the research. You can discuss this with your Tax Expert before any payments.

If I don’t want to do my Self Assessment through Finmo, can I export my data?

While we’d recommend carrying out your Self Assessment through Finmo, it is possible to get your data exported if you decide to go down another route. This will be in .csv file format (or .xlsx or .pdf if you’d prefer). Along with your transactions, descriptions, dates and tags, we’ll also provide the HMRC categories if applicable. We can do this for £25 + vat – just email us at support@finmo.co.uk to get started. The reason we recommend doing your Self Assessment with us, though, is because we’re able to offer on-hand expert advice throughout the process, and can help you optimise your taxes fully at a fraction of the usual accountancy cost. Want to chat it through? We offer a free consultation to anyone who’s interested.

What are Escalations?

Our Escalate feature lets you send transaction queries to our advisors and accountants to be reviewed. Essentially – if you’re unsure whether you can or need to claim an income or expense with HMRC, tap the Escalate button in the app and we’ll clear it up for you. Check out our guide for further detail.