123 Sheets
👤 Peter Hamilton (Chartered Accountant and Tax Adviser — he knew the compliance pain, the HMRC approval maze, and the accountant resale channel.)🌐 siteLinkedIn
A chartered accountant saw a mandate coming and sold the smallest legal way to obey it.
Will it work? · our read
Forced demand. A law made the market; a low price kept it. The real risk is total dependence on HMRC — its rules, its API, its recognition. But churn is tiny: VAT never stops.
01How the money moves
Law bans the free VAT portal (2019)
→
Excel holdouts need compliant software
→
About $50/yr per taxpayer, recurring
02The numbers
35,000+
entities filed
site
1,900+
5-star reviews
Trustpilot
4
staff
Co. House
About 35,000 filers at roughly $50/yr; UK micro-entity accounts hide the real turnover.
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123sheets.com — product, pricing, and the '35,000+ entities file with us' claimLinkedIn: 123 Sheets Ltd — company page lists 2016 as the founding year, predating this card's earlier '2019' claimIssueWire (Jan 24, 2019) — press release confirming the VAT bridging software launched January 2019, ahead of the April 2019 MTD deadlineCompanies House — 123 Sheets UK Ltd, incorporated Oct 2020, micro accounts, 4 staffTrustpilot — 1,900+ reviews, 5-star average
Revenue is our estimate, not disclosed: 123 Sheets files UK micro-entity accounts, which legally hide turnover. Figure derived from the first-party '35,000+ filers' claim at about $50/yr each — treat as a rough EST (range about $0.7-1.3M). Note: that $50/yr matches the standard renewal price (£39.50+VAT); most third-party listings advertise a discounted first-year price of about £19.75+VAT (roughly $25), so the estimate leans on the higher, non-discounted rate. Founder credentials, HMRC recognition, staff count, and review totals are first-party verified. The unverified '33% of HMRC submissions' marketing claim is deliberately excluded. Founding year corrected to 2016, per 123 Sheets' own LinkedIn company page and Tracxn (not 2019 as previously stated) — the VAT bridging software itself launched in January 2019, per a contemporaneous press release, ahead of the April 2019 MTD deadline. The mandate shaped the product's launch timing, not the company's founding. We never score you.