Most UK small business owners already use accounting software. FreeAgent, Xero, and QuickBooks are the three most common for sole traders and small limited companies. They are good at what they do: recording transactions, managing invoices, preparing VAT returns, and keeping HMRC happy.
What they are generally not built for is commercial intelligence. They tell you what happened. They do not tell you what it means, whether you are setting enough aside for tax, which costs are actually allowable, or where the gaps in your financial position are.
That is what LumixAI adds. And it does it without asking you to switch anything, install anything, or change how you work.
LumixAI works with existing UK SME accounting software — FreeAgent, Xero, QuickBooks, Sage, FreshBooks — through direct CSV export or PDF upload. No new system is required. LumixAI reads the transactions, applies commercial analysis (margin, cashflow, break-even, working capital), and produces the commercial view that statutory accounting software does not deliver natively.
How it works with your existing software
Every major accounting platform lets you export your transaction data. It takes under two minutes. You export the file, upload it to LumixAI, and within 60 seconds you have a financial intelligence summary that goes well beyond what your accounting software shows you.
The process is the same regardless of which platform you use.
Go to Banking, select your bank account, and click Export. Choose CSV as the format and select your date range. The file downloads immediately. Upload it directly to the LumixAI Financial Intelligence Tool.
Go to Accounting, then Bank Accounts, and select the account you want to analyse. Click the Statement tab and export as CSV. Alternatively, use the Reports section to export a bank statement for the period. Upload to LumixAI.
Go to Transactions in the left menu and select your bank account. Use the filter to set your date range, then click Export and choose CSV. This downloads all transactions for the period. Upload to LumixAI.
What LumixAI gives you that your accounting software does not
Your accounting software categorises transactions for bookkeeping purposes. LumixAI analyses them for commercial and tax intelligence. The difference matters.
HMRC allowability analysis
Your accounting software records that you spent money. LumixAI applies the HMRC "wholly and exclusively for business" test to each transaction and flags it as allowable, needing justification, or not allowable. This is not a replacement for an accountant, but it gives you a clear picture before you sit down with one.
Tax set-aside estimate
One of the most common cash flow problems for sole traders and small limited companies is not setting enough aside for tax. LumixAI estimates your taxable profit from the period covered by your file and calculates a recommended monthly set-aside amount. It is an estimate, not a tax return, but it is a useful commercial reality check.
Missed claim identification
The AI scans your transactions for patterns that suggest potentially unclaimed allowances. Use of home for business, mileage, professional subscriptions, equipment, mobile phone usage. Items that sole traders and small business owners routinely under-claim, often because they do not know what is allowable or have not kept the records.
Plain-English commercial summary
Your accounting software shows you a bank balance and a transaction list. LumixAI reads what is in those transactions and tells you what they mean for your business: what your income sources are, what your biggest costs are, what the net position is, and what you should do about it. In plain English, without accounting jargon.
Which accounting software and banks does LumixAI support?
| Platform | Format | Status |
|---|---|---|
| FreeAgent | CSV export | Supported |
| Xero | CSV export | Supported |
| QuickBooks | CSV export | Supported |
| Monzo Business | CSV and PDF | Supported |
| Starling Business | CSV and PDF | Supported |
| Barclays | CSV and PDF | Supported |
| HSBC | CSV and PDF | Supported |
| NatWest / RBS | CSV and PDF | Supported |
| Lloyds / Halifax | CSV and PDF | Supported |
| Tide | CSV | Supported |
| Revolut Business | CSV | Supported |
| Scanned image PDFs | PDF (image) | Use CSV instead |
Is my data safe?
Your file is read in your browser and sent to the AI for analysis. It is not stored on LumixAI servers after your session ends. The analysis uses the OpenAI API under standard commercial terms, which include a 30-day retention period before deletion and an explicit commitment that your data is not used to train AI models.
If you remove personal transactions from your export before uploading, that is good practice. The tool is designed for business transaction data only, and the AI will flag any transactions that look personal rather than including them in the financial totals.
Free version vs subscriber version
The free version of the Financial Intelligence Tool gives you the executive summary: total income, net position, estimated tax set-aside, and top-level flags. One free analysis per session, no sign-up required.
The subscriber version, included in the LumixAI plan at £19.99 per month, gives you the full transaction-level analysis: every transaction categorised individually with its HMRC allowability rating, detailed missed claim analysis, a full PDF report ready to share with your accountant, and up to 10 analyses per month.
If you already use FreeAgent, Xero, or QuickBooks, you are two minutes away from seeing what LumixAI can tell you about your business. Export your last three months of transactions, upload the file, and try the free version now.
LumixAI is not regulated financial or tax advice. All analysis is for commercial intelligence purposes. Consult a qualified accountant for tax decisions.