Pennine Ventures – the North West-based team behind GoSimpleTax and Coconut – has acquired payroll software business MyPAYE to better support sole traders, landlords and accountants.
The deal follows news in April last year that Pennine Ventures acquired Coconut, which has since been integrated with GoSimpleTax.
GoSimpleTax and Coconut are cloud bookkeeping and UK tax filing solutions, providing 24,000 customers with innovative bookkeeping, self assessment and VAT Making Tax Digital filing software.
Adding MyPAYE continues this growth, establishing the business as a challenger in the UK cloud software space, with bookkeeping, seamless bank account integration, income tax filing and payroll for small businesses and their accountants.
The acquisition creates immediate value for MyPAYE, Coconut and GoSimpleTax customers. Tim Sheppard will be joining the team to continue to provide knowledge, updates and support its customers.
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“As GoSimpleTax and Coconut grow we’re getting more enquiries for a simple payroll,” said Pennine Ventures MD James Cryne.
“The MyPAYE platform is a leading cloud provider for our segment and makes payroll preparation easy for both accountants and individuals.”
MyPAYE CEO Sheppard added: “We’ve been looking for a good home for MyPAYE as I approach retirement.
“The team at Pennine Ventures provide that in abundance, giving MyPAYE a place to prosper and grow. I look forward to working with them over the coming years to bring these ambitions to reality.”