Every year, millions of UK taxpayers spend hours wrestling with self assessment forms. The process is confusing, error-prone, and unnecessarily time-consuming. AI is about to change all of that.
The Current Pain Points
- Complex HMRC forms with hundreds of fields
- Manual categorisation of income and expenses
- Risk of errors leading to penalties
- Expensive accountant fees for straightforward returns
How AI Solves This
Document Intelligence: AI can read and understand bank statements, invoices, and receipts — extracting relevant financial data automatically.
Smart Categorisation: Machine learning models trained on millions of transactions can categorise income and expenses with high accuracy, identifying tax-relevant categories instantly.
Automated Calculations: Once data is categorised, AI can apply current tax rules to calculate liabilities, allowances, and reliefs automatically.
Guided Filing: AI assistants can walk users through the filing process, explaining each section and pre-filling information based on analysed data.
The DIY Tax Return Approach
At Cogno AI, our DIY Tax Return product embodies this vision. Upload your documents, let AI do the analysis, review the results, and submit — all in minutes rather than hours.