Managing tax compliance and accounting workflows can feel like piecing together a puzzle — except the pieces keep moving, the clock won’t stop ticking, and clients are waiting for answers. This is why many accounting firms choose software that can streamline their tax compliance and practice management.
According to Thomson Reuters, 8% of tax firms use GenAI technology and 13% plan to use AI in accounting tech soon. Another report from Gartner suggests that companies that digitize their processes with high technology acceptance see a 75% reduction in financial errors.
In the accounting realm, TaxCalc is popular with tax firms for its comprehensive package of tax prep, document management, and client collaboration. But do its features justify its pricing? And more importantly, is it the right fit for your firm? In this blog, we’ll break down TaxCalc’s pricing plans and help you decide whether it fits your business needs.
What is TaxCalc?
TaxCalc is a cloud-based tax and practice management software designed for accountants, tax professionals, and other financial practitioners. It streamlines tax return preparation, compliance, and client management through an intuitive interface with robust automation capabilities. TaxCalc is a one-stop solution for self-assessment, corporation tax, VAT filing, and accounts production with built-in protections, workflow management, and seamless integration.
Pro Tip: While considering software for accounting firms, keep in mind all features alongside tax compliance such as billing automation, workflow integrations, and client communications.
TaxCalc Pricing Plans
TaxCalc offers different pricing tiers based on the needs of accounting firms, tax professionals, and businesses. Below is an overview of TaxCalc’s core pricing structure:
Practice Management (Per annum, ex. VAT)
- Practice Manager – Included when you purchase any TaxCalc product
- WorkFlow – From £60 per user
- Time – From £24 per user
- Communications Centre – From £48 per user
- Document Manager – From £212 per user
- eSign Centre – From 90p per envelope
- Companies House Advanced Integration – £181
Practice Compliance (Per annum, ex. VAT)
- AML Centre – From £94 for 24 clients
- AML Checking Service – From £1.60 per search
- GDPR Centre – £147
Financial Reporting (Per annum, ex. VAT)
Accounts Production:
- Unlimited – £658
- Small Practice (50 clients) – £333
- Micro Practice (12 clients) – £149
- Additional concurrent users – £152 per user
- Group Accounts Add-on – £60 per consolidation
- FRS 102 MLA Add-on:
- Unlimited – £329
- Small Practice (50 clients) – £166
- Micro Practice (12 clients) – £75
HMRC and Taxation (Per annum, ex. VAT)
Tax Return Production:
- Individual & Partnership Unlimited – £426
- Individual and Partnership (30-2 clients) – £213
- Corporation Tax Unlimited – £319
- Corporation Tax 50 clients – £277
- Corporation Tax 12 clients – £213
- Individual 12 clients – £164
- Micro Practice (12 Individual, 5 Partnership, 5 Corporation) – £324
- Trust Unlimited – £218
- Single SA900 Trust Tax Return – £49
- Partnership 5 clients – £133
- Partnership Solo 12 clients – £185
- Additional concurrent users – £152 per user
Also Read: Before tax season hits, ensure your clients are prepared with a tax return checklist for clients to avoid last-minute errors.
VAT Filer:
- Unlimited clients – £245
- Small Practice (50 clients) – £180
- Micro Practice (12 clients) – £89
- Additional concurrent users – £152 per user
Company Secretarial (Per annum, ex. VAT)
Company Incorporator:
- 10 assisted incorporations – £80
- 20 assisted incorporations – £140
- 50 assisted incorporations – £300
- 100 assisted incorporations – £500
Companies House Forms:
- Unlimited clients – £319
- Small Practice (50 clients) – £215
- Micro Practice (12 clients) – £96
Cloud and Remote Working (Per annum, ex. VAT)
CloudConnect:
- CloudConnect 5+ users – £382
- CloudConnect 2 users – £225
- CloudConnect 1 user – £112
- 5 additional users – £382
How Accountants and Bookkeepers Can Maximize Value with Cone Alongside TaxCalc
TaxCalc is a well-established tax preparation software designed for professional tax preparers. However, when it comes to running an entire accounting practice with workflows seamlessly, Cone Practice offers a comprehensive practice management software at a more affordable price starting at 5£ per user/month.
- Comprehensive Work Management: Includes proposal templates, engagement letters, pricing, billing, and payment integration.
- Automated Billing System and Payments: Cone simplifies the process by syncing with QuickBooks and Xero.
- Proposals: Best in class proposal functionality
- Advanced E-signature Capabilities: Cone provides seamless digital signing with a client-friendly interface.
- Easy-to-Use Interface: Cone is designed with user-friendly navigation, reducing the learning curve.
Cone starts at just £5 per user/month, making it significantly more affordable.
Cone Pricing
Starter Plan: £5/mo per user billed annually
Essentials Plan: £10/mo per user billed annually
Growth Plan: £15/mo per user billed annually
Make Your Ideal Choice
While TaxCalc has good features for tax preparation, it isn't the most affordable and doesn't come with advanced automation. Cone's modern, budget-friendly and top-notch advanced features that support work management and overhead cost reduction can be a great alternative. If you want an easy-to-use, automated, and low-cost work management solution, Cone is a smarter choice.
Try Cone’s free trial today!