Disclaimer

Not Professional Advice

TaxFolio is designed to help you manage your self-assessment tax records and submit returns to HMRC. However, TaxFolio is not a substitute for professional tax, financial, or legal advice.

The information provided through our software is for general guidance purposes only. Every individual's tax situation is unique, and you should consult with a qualified accountant, tax advisor, or legal professional for advice specific to your circumstances.

Your Responsibility

You are ultimately responsible for the accuracy and completeness of any information submitted to HMRC. While TaxFolio provides tools to help you categorise transactions and calculate your tax liability, you must review all information before submission.

TaxFolio's AI-powered categorisation is designed to assist you, but it may not always be correct. You should verify that all transactions are correctly categorised before submitting your tax return.

Bank Connections

Bank connections are provided through TrueLayer, which is authorised and regulated by the Financial Conduct Authority (FCA) under the Payment Services Regulations 2017 for the provision of Account Information Services.

TaxFolio never stores your bank login credentials. We only receive read-only access to your transaction data through secure Open Banking APIs.

HMRC Integration

TaxFolio is recognised by HMRC as Making Tax Digital (MTD) compatible software. When you submit information to HMRC through TaxFolio, it is transmitted directly to HMRC's systems.

Once submitted, information cannot be automatically recalled. If you need to make corrections after submission, you may need to contact HMRC directly or submit amended returns as appropriate.

Limitation of Liability

To the fullest extent permitted by law, TaxFolio and TAXFOLIO LTD shall not be liable for any direct, indirect, incidental, consequential, or special damages arising out of or in connection with your use of our software, including but not limited to:

Errors in tax calculations or submissions
Penalties or interest charged by HMRC
Loss of data or business interruption
Inaccuracies in AI-generated categorisations

When to Seek Professional Help

We recommend consulting a qualified accountant or tax advisor if you have:

Foreign income or overseas assets
Complex capital gains situations
Partnership or limited company income
VAT-registered businesses
Multiple sources of income across different categories
Tax disputes with HMRC
Any uncertainty about your tax obligations

Contact Us

If you have any questions about this disclaimer, please contact us at support@taxfolio.io.

Last updated: January 2025