Mickael Paris

Monzo Bank has become the latest bank to join the MTD goldrush as the digital bank announces that sole traders and landlords will be able to file taxes directly to HMRC from their business bank account without the need for separate software. The filing tool, provided via a partnership with Sage Embedded services, supports the quarterly MTD submissions and end-of-year returns, starting from the 2026/2027 tax year. Monzo joins the likes of NatWest Group, Starling and Tide in the race to attract business bank accounts -- a recommended step in the MTD process. Full story in the comments below 👇

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📢 Allica Bank CEO Richard Davies was quoted in The Times yesterday about how a few smart regulatory tweaks could unlock £500 million more in SME lending this year 🚀   He covered:   🏦 Why high street banks are pulling back from SME lending 💰 How UK businesses think about debt, and how to build confidence ⏩ Why speed of decision-making matters more than ever   We’re proud to back the UK’s established SMEs that make up the beating heart of the UK economy – and too often get overlooked.   With over £3 billion already lent, we’re transforming relationship banking with great rates, smart people and powerful technology. And with the right support from regulators, we could do even more.   Let’s make it easier for established SMEs to get the money they need to thrive 💼   👉 Read the full article: https://lnkd.in/e8bbt8S2   #SMEs #businessbanking #fintech #regulation #growth

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OakNorth Bank is no shiny Monzo or Revolut. But what the UK challenger bank lacks in loud logos and viral advertising, it makes up for with a squeaky-clean reputation. Chief risk officer Mark Steele tells Farah Khalique in a sit-down interview at The Banker's HQ on how the lender is expanding into the US in a characteristically cautious way. While many of its digital peers have admitted to embarrassing compliance failures, system outages and swallowed multimillion pound fines in recent history, OakNorth has been quietly building a reputation as one of Britain’s most disciplined and consistently profitable mid-sized banks. With an average liquidity coverage ratio of nearly 500 per cent — more than four times the regulatory minimum — and not a single public enforcement action, it appears to excel at risk management and maintaining its reputation. Visit the comments (switch to 'most recent views') to read the full piece. Photo" Carmen Reichman.

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🚀 Accelerating the ambitions of UK smaller businesses Our Growth Guarantee Scheme has reached £2.5bn in total lending, enabling smaller businesses across the UK to invest, expand and thrive. 📍 69% of this lending has reached businesses outside London and the South East 📍 £270m+ has supported businesses in the North West alone 📍 Over £633m has been provided to companies under five years old Chancellor of the Exchequer Rt Hon Rachel Reeves said: "The Growth Guarantee Scheme has made a huge impact on our regional economies, helping smaller businesses across the UK to invest and grow, creating jobs and putting more money in people’s pockets." Launched in July 2024, Growth Guarantee Scheme can be accessed via accredited lenders and provides crucial financing through term loans, overdrafts, asset and invoice finance, supporting up to £2m per facility. 👉 Click through for the key highlights of this milestone. 

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Challenger bank expands after £5 billion boost “We’ve built a resilient, diversified balance sheet that sets us up for sustainable profitability – and we’re still building momentum.” Chetwood Bank has unveiled expansion plans after breaking a £5 billion balance sheet benchmark. The digital lender is opening a Manchester office which will build on existing bases in London, Wrexham and Fleet, leaving it primed to continue its momentum across the UK banking sector. Read more here: https://lnkd.in/eZpHStrf Paul Noble

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Pleased to see the Government’s new Financial Services Growth and Competitiveness Strategy, recently announced by Rt Hon Rachel Reeves, set out an opportunity for UK fintechs. According to the Checkout.com Global Trust Index (https://lnkd.in/e7FaJse2) the UK scores 8.6 for trust in the future growth of digital payments – a strong indicator of confidence in the market. By building a more collaborative, trusted, and high-performing ecosystem, the UK can strike the right balance between innovation and regulation, protecting consumers, building trust in the system that allows innovative to flourish and simplify experiences. Credit to Katie Ramsey and the teams at the Department for Business and Trade. It’s a step forward in championing fintech innovation here in the UK.

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How open banking data enables better borrowing Millions of people are denied access to mainstream credit due to outdated or incomplete lending data, even when they can afford to repay. But open banking is changing that. Social lenders such as  SALAD and Plend | B Corp use near real-time financial data to offer faster, more inclusive lending, while debt charities like Citizens Advice use the information to speed up advice.  From identifying unclaimed benefits to cutting the cost of borrowing, open banking is helping reshape responsible credit in the UK. 📊 Dive into the data-driven future of lending and see how smart decisions start with smart data. 👉 https://lnkd.in/e-WU4p_X #OpenBanking #DigitalInnovation #FintechUK #AffordableLending #SmartFinance #OpenFinance Creditspring #Bamboo-loans Finio ClearScore AperiData PayPoint plc Fintellity Inbest James Pursaill Tim Rooney Jo Toolan Andrew Bonsall Daniel Evans

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