Coconut connects to your bank account to help you track income, claim expenses and work out how much tax you owe.
Whether you’re just getting started or have been self-employed for years, we have a plan for you.
Categorising transactions for tax is essentially your bookkeeping, and good bookkeeping is critical to making sure you pay the right amount of tax.
Depending on your plan, each month you get a free allowance for the number of transactions you can categorise for tax (we do this automatically for you if you have a business account connected to the app). This includes both income and expenses.
Sole traders can connect their personal bank or current accounts to Coconut and begin to separate their business and personal transactions.
You can get in touch with us through the in-app chat or by emailing firstname.lastname@example.org
Coconut is designed specifically for sole traders. Designed to give you a view of how your business is performing, help you work out how much tax you owe and track income and expenses. If you want to spend more time focusing on your business and not your accounting, Coconut is for you.
Not yet. You can only use Coconut on mobile devices at the moment (available on both Android and iOS).
You can connect bank accounts and credit cards from over 25 UK providers. Take a look at the full list here.
Yes you can. We offer everyone a 7-day free trial (no credit card required), so you can see how Coconut works.
From tips on taxes to self-assessments and expenses, we have advice for people in all stages of their business journey.
As part of HMRC’s Making Tax Digital, sole traders will soon be required to complete 4 tax submissions per year instead of 1.
Take a look at the latest sole trader tax rates for the 2021/22 as well as our advice on how to prepare for the new tax year.