Virgin Money has announced a new partnership with personal tax app untied.

The UK-based company provides tax calculations in real time, designed to help users to put the right amount of money aside for when their tax bill comes due.

The new partnership will enable Virgin Money’s self-employed customers to manage their businesses, taxes, file directly with HMRC and meet its requirements for Making Tax Digital (MTD) for Income Tax.

MTD is a new way of paying taxes which will become mandatory for more than 4 million sole traders who rent out property from April 2024.

Untied has been part of the government’s pilot programme for the new digital tax.

Graeme Sands, head of business and lending products at Virgin Money, said. “This new partnership reinforces Virgin Money’s commitment to remaining at the forefront of the types of innovation that help our customers run their business with less effort.”

Kevin Sefton, chief executive of untied, commented: “We’re here to help self-employed Virgin Money customers stay on top of their taxes, whether that’s registration, knowing deadlines, keeping records, finding ways to save tax, filing self-assessment tax returns, and even paying HMRC.

“We have enjoyed working in close collaboration with the Virgin Money team throughout the robust selection and due diligence processes to get this partnership up and running for its customers.”

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