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Lloyds offers free Making Tax Digital tool for SMBs, powered by BankiFi

Tuesday, May 19, 2026 — 16:39:09 (UTC)

Lloyds offers free Making Tax Digital tool for small businesses, powered by BankiFi

19th May 2026: Lloyds, part of Lloyds Banking Group - the UK’s largest digital bank, together with BankiFi has launched a free Making Tax Digital (MTD) for Income Tax tool for small businesses in the UK. Embedded into the Lloyds Business Account, the tool is available exclusively to Lloyds Business customers at no cost and with no subscription fee.

BankiFi’s technology platform has been integrated directly into Lloyds’ Business Account and allows small businesses to quickly and easily comply with new MTD for Income Tax requirements which came into force on 6th April 2026. These regulations require sole traders and landlords to keep digital records and submit quarterly reports to HMRC, both of which will be possible through the Lloyds banking app.

This MTD for Income Tax tool is HMRC‑recognised and enables small businesses to move from spreadsheet-based accounting to a fully digital solution integrated with a bank account. It also provides quarterly updates to HMRC, estimated tax views and end‑of‑year filing.

Ruchir Rodrigues, BCB Client Strategy & Commercial Director at Lloyds 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.”

Mark Hartley, CEO at BankiFi 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.”

ENDS

Notes to editors

BankiFi media contact Amelia Mennell, MC2 Ameliam@thisismc2.com 0161 236 1352

Lloyds media contact Ellen Gillespie, SkyParlour ellen@skyparlour.com +44 (0)330 043 1315

About BankiFi BankiFi is a small business banking expert. We enable mainstream banks to increase small business market share - creating industry-leading propositions through unrivalled small business insight and our flexible, bank-grade technology. Our propositions go beyond banking, reimagining banks’ digital channels and providing the tools their customers need to thrive - delivering relationship primacy, boosted NPS scores and increased deposits. Our technology acts as a broader integration platform too, transcending internal silos. We have a deep understanding of small businesses, driven by countless conversations with banking customers, millions of data points from our technology and a constant analysis of the challenges they face - from the macro to the micro. Headquartered in Manchester, we are proud to be a trusted partner to the biggest names in the UK banking.

About Lloyds Banking Group With 28 million customers, of which over 23 million are digitally active, we’re proud to be the UK’s biggest digital bank. Our services span retail and commercial banking, insurance and long-term savings, delivered through trusted brands including Lloyds, Halifax, Bank of Scotland and Scottish Widows. Our purpose is Helping Britain Prosper. For more than 320 years, we’ve served households and businesses across the UK. Today, we’re transforming how we do that. We’ve invested more than £4bn in our digital transformation, and we’re just getting started. That means building smarter, more resilient tech, expanding our use of AI, and creating seamless experiences for a digital-first Britain. Our support for businesses We’re proud to support one million UK businesses with leading digital and relationship banking services, as they start up, grow and thrive. Through a network of relationship teams based across the UK, as well as internationally, we deliver a mix of local understanding and global expertise necessary to provide long-term support to our clients to help them fulfil their growth aspirations. We offer a broad range of finance beyond term lending, spanning import and export trade finance, structured and asset finance, securitisation facilities and capital market funding. Our product specialists provide bespoke financial services and solutions, including tailored cash management, international trade, treasury and risk management services. To see the latest factsheet setting out how we support UK businesses please visit: Supporting British businesses - Lloyds Banking Group plc

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Source: Company press release.

Categories: Partnership