A lot of my friends creating startup have been using bookkeepers who had missed important tax advice such as the R+D tax credits or Flat Rate VAT Scheme. I also have friends trying to raise but there needed to be more people aware of SEIS. The calculators on the market look at just Soletrader vs Limited company without looking at the variety of other tax schemes that can be utilised.
What it does
You can input your financials in the system or it can be pulled from Xero and it will give you various different advice and how much you could save. Accountants can also use to analyse all their client's data very quickly produce reports that could work as lead generation. It will be really good for accountants to constantly analyse their data when making tax digital is mandatory. Recently I attended Xerocon London and I believe this product is what Rod Drury and Richard Susskind were talking about when they say the next iteration of accountancy advisory services.
How I built it
I have been developing this between contracts. I used C# Visual Studio etc... I then learnt a lot about tax from different sources especially books. I have spoken to a few accountancy firms to understand their pain points and looked at areas where I can speed it up.
Challenges I ran into
The biggest challenge I had was converting Tax calculations to work in a way throughout a whole workflow and to understand subtle changes that make a difference to save tax. The other issue was to create a UX to display the data which is easy to understand.
Accomplishments that I'm proud of
Saving a few friends tax and having interest from accountants.
What I learned
I learnt vue which was really good. I also learnt a lot about TAX. I have also used Beanstalk when usually with AWS I have set up VMs etc.. It was really easy
What's next for Tax Optimiser
The system has been developed so that it can use different countries tax rules. So I will look to produce it for both Austrailia and South Africa whose calculations are extremely similar and I will look to develop it for the US market as well.
This is the detailed video https://youtu.be/z1UjnLewgt0