Taxmate has launched a website which will enable individuals in Britain and Ireland to prepare and file their taxes online.

The Irish service will be fully operational in September when the Revenue is expected to have the capability to receive online filing.

The new service, www.sortmytax.com , will bring users through the process of filling out their tax forms online and will produce the appropriate forms for submission to the Revenue.

The company has launched a £20,000 (€25,395) competition to pay an individual's tax bill for one year.

And it will also be giving away £10,000 to customers who sign up for the service.