FreshBooks continues international expansion, launches in U.K.
FreshBooks, which makes simple accounting software for small businesses, has launched in the United Kingdom. Along with entering a new region, the company is releasing a new suite of features targeted at U.K. business needs.
While FreshBooks has been serving the U.K. market for more than a decade, recent customer growth has encouraged FreshBooks to increase its focus and investment in the region. In 2019, FreshBooks launched its VAT Return Report to help more small business owners prepare for compliance at tax time.
FreshBooks’ new offerings include the below, with more updates planned for 2020:
- HMRC (Her Majesty Revenue and Customs)-approved Making Tax Digital for VAT, so small businesses can file their VAT return within the FreshBooks platform;
- The ability to connect FreshBooks to bank accounts with the UK’s largest institutions — including Barclays, HSBC U.K., NatWest, Lloyds Banks, and Santander U.K. — enabling small businesses to automatically import their bank account transactions and see their financial health and tax time readiness;
- Access to an ecosystem of 90+ complementary apps and integrations, including an integration with GoSimpleTax, which provides online tax returns and self-assessment software for U.K. businesses;
- Expanded support hours for FreshBooks’ U.K.-based customers, made possible by the recent opening of FreshBooks’ first international office in Amsterdam; and
- #imakealiving, FreshBooks’ traveling event series for people who work for themselves, will be coming to the UK in May 2020.
“The U.K. is at the forefront of digital tax compliance, and we’re eager to help small businesses rise to the challenge,” said Matt Baker, senior vice president of corporate development and international expansion at FreshBooks. “We recognize that government requirements can be onerous and time-consuming for small businesses. We’re confident FreshBooks can help them save time and stay organized, with features specifically tailored to their needs.”
FreshBooks’ launch in the U.K. follows the company’s recent partnership with telecommunications and internet service provider Three UK. Announced in April 2019, FreshBooks is a key partner of Three UK’s Three Means Business, a mobile offering designed to meet the needs of small business owners and entrepreneurs. The offering includes a free six-month subscription to FreshBooks, as well as a data-friendly mobile contract.
In February of last year, FreshBooks announced the addition of bank reconciliation and double-entry accounting to its software, enabling its customers to work with an accountant. In August 2019, FreshBooks announced JPMorgan Chase & Co. made a strategic investment in the company.