Coconut
Mobile-first accounting + MTD filing for the self-employed.
by Coconut
A solid mobile-first pick for sole traders and landlords, and genuinely free if you're happy to bank with Zempler.
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Overview
Coconut is a UK accounting app for sole traders and landlords. HMRC-recognised for MTD Income Tax, it keeps digital records, auto-categorises income and expenses, and submits quarterly updates and year-end returns. Customers who open a Zempler Bank business account get Coconut free for up to two years.
Free with Zempler Bank
Coconut is free for up to 24 months for customers who open and keep a connected Zempler Bank business account.
Conditions: Free only if you open and connect a Zempler Bank business account and make an initial deposit. Outside that, it is a paid plan.
+Pros
- ✓HMRC-recognised for MTD Income Tax
- ✓Free for up to 2 years with a Zempler Bank account
- ✓Mobile-first, auto-categorises income and expenses
−Cons
- ✕Free route depends on opening a specific bank account
- ✕Less suited to VAT-registered or complex businesses
Coconut, frequently asked questions
Is Coconut HMRC-recognised for MTD?+
Yes. Coconut is HMRC-recognised software for Making Tax Digital for Income Tax. It keeps digital records and submits quarterly updates and year-end returns directly to HMRC.
How much does Coconut cost?+
The MTD filing plan is £129.99 a year (around £11/mo) or £21.99 per month. A bookkeeping-only plan is cheaper but doesn't include MTD filing. Coconut is free for up to two years if you open and connect a Zempler Bank business account.
Is Coconut really free?+
It can be. Coconut is free for up to 24 months for customers who open a Zempler Bank business account, make an initial deposit, and keep the account connected. Without a Zempler account, you pay the standard plan price.
Is Coconut good for landlords?+
Yes, Coconut supports property income and is HMRC-recognised for landlords' MTD Income Tax submissions. It's a generalist self-employment app rather than a property-specialist tool like Hammock, but it covers landlord MTD needs.