FreeAgent
Free if you have a NatWest Group business account, otherwise £19–£33/mo.
by FreeAgent Central (NatWest Group)
If you already have a NatWest Group business account, or are willing to open a (free) Mettle account, this is effectively free. Otherwise it's an expensive full-fat accounting platform next to Xero Simple or QuickFile.
Some links on this page are affiliate links, we may earn a commission at no extra cost to you. How this works.
Overview
FreeAgent is a polished UK-built accounting platform owned by NatWest. It's free if you hold a business current account with NatWest, Royal Bank of Scotland or Ulster Bank, or a free Mettle business account, and you make at least one transaction a month. Outside that, it's a paid subscription at £19–£33 per month, pricier than Xero Simple (£7/mo) or QuickFile (free under 1,000 transactions/yr). Strong for sole traders, freelancers and landlords wanting guided workflows and built-in project profitability.
FreeAgent at a glance
How FreeAgent stacks up on the dimensions that matter when picking MTD software.
Full MTD support for VAT and Income Tax, plus the Self Assessment final declaration step end-to-end, uncommonly complete for a single product. HMRC-recognised across all submission types.
Solid for sole-trader-sized businesses, P&L, balance sheet, trial balance, VAT reports, project profitability. Reporting depth is below Xero but covers everything most small businesses need.
Full double-entry bookkeeping. Bank feeds, automated rules, and an unusually friendly UI for non-accountants. Includes payroll on the paid tier, which most rivals charge extra for.
Not really. FreeAgent has basic stock tracking via custom fields but no proper inventory module. If you sell physical products at any volume, Xero (Standard) or QuickBooks (Plus) is the right move.
Excellent. Project profitability, time tracking and invoicing are built in across all paid tiers. This is one of FreeAgent's strongest features for freelancers and consultants.
Strong. Mobile app captures receipts to a transaction, mileage tracking is built in, and expense categorisation is FreeAgent's natural strength. Designed around the sole trader expense workflow specifically.
NatWest Group ownership means tight integration with NatWest lending products. Outside that, FreeAgent exports are accepted by mainstream UK lenders without issue.
Strong choice if you're starting out and banking with NatWest, RBS, Ulster Bank or Mettle, FreeAgent is free for as long as you hold the account. Without one, it's expensive next to Xero's £7/mo entry.
Not applicable. FreeAgent is aimed at sole traders, freelancers and small companies that don't fall under UK ESG or sustainability reporting requirements. Larger businesses with sustainability obligations would use Sage 50 or a dedicated ESG platform rather than FreeAgent.
Friendly UK-built UX with a strong mobile app and excellent receipt capture. Particularly well-suited to non-accountants who want guided workflows rather than a generic ledger like Xero or QuickBooks.
Free with NatWest / Mettle
Free for NatWest Group business banking customers, including Mettle (which is itself a free digital business account).
Conditions: Requires a business current account with NatWest, Royal Bank of Scotland, Ulster Bank, or a (free) Mettle account. Personal accounts don't qualify. At least one transaction per month is needed to keep FreeAgent active.
+Pros
- ✓Free for NatWest Group business account holders (including free Mettle accounts)
- ✓UK-built, strong MTD support
- ✓Great mobile app and receipt capture
- ✓Handles invoicing, expenses, VAT and MTD in one place
−Cons
- ✕Free route is conditional, you must hold a qualifying business account
- ✕Paid tier is on the pricier end if you don't bank with NatWest Group
- ✕Can be more than sole traders need
FreeAgent, frequently asked questions
Is FreeAgent free?+
It can be. FreeAgent is free for as long as you hold a business current account with NatWest, Royal Bank of Scotland, Ulster Bank, or a (free) Mettle account, and make at least one transaction a month. Without a qualifying account it's a paid subscription of £19–£33 per month.
How do I get FreeAgent for free?+
Open a qualifying business account, NatWest, RBS, Ulster Bank, or the free Mettle digital business account, and FreeAgent is included at no extra cost. Mettle is itself free, so opening a Mettle account is the cheapest route to free FreeAgent. You need at least one transaction a month to keep it active.
How much does FreeAgent cost without a NatWest account?+
Without a qualifying NatWest Group or Mettle account, FreeAgent is £19 per month for sole traders, £29 per month for partnerships, and £33 per month for limited companies. That's pricier than Xero Simple (£7/mo) or QuickFile (free under 1,000 transactions/yr), so most people not banking with NatWest Group pick something else.
Does FreeAgent support MTD for Income Tax?+
Yes. FreeAgent is HMRC-recognised and handles MTD for Income Tax, including digital record-keeping and quarterly updates, as well as MTD for VAT. The full Self Assessment final declaration is also built in, uncommonly complete for a single product.
FreeAgent vs Xero, which is better?+
Depends on banking and intent. If you bank with NatWest, RBS, Ulster Bank or Mettle, FreeAgent is free; Xero starts at £7/mo. FreeAgent has stronger project profitability and is more opinionated for sole traders and freelancers. Xero has the wider accountant ecosystem and slightly deeper reporting on its Standard plan. For most people the deciding factor is which bank you're with.
Is FreeAgent good for landlords?+
Yes. FreeAgent supports property income and multi-property tracking, and is a strong all-round choice for landlords, especially if you can get it free through a NatWest Group or Mettle account. For property-first workflows (per-property P&L, BTL mortgage tracking) Hammock fits better; FreeAgent is the right pick for landlords who also have other income streams.
Does FreeAgent handle CIS?+
Yes, FreeAgent supports CIS deductions for both contractors and subcontractors. It's HMRC-recognised for CIS filings and one of the more polished CIS workflows in its price band, particularly attractive when the free-via-NatWest route is available.
What are the alternatives to FreeAgent?+
If you don't bank with NatWest Group, Xero Simple (£7/mo) is the natural cheap alternative. For free options, QuickFile (free under 1,000 transactions/yr), Pandle, Clear Books, and HMRC's own free tool all cover MTD. For property-focused landlords, Hammock; for freelancers wanting an accountant included, Crunch Premium (£21.60+VAT/mo).