With their unique accounting platform and transaction categorisation, we can finally offer a stress-free experience: Most of the time we can get on with our job without needing to bother you at all. Coconut also offers instant notifications when you send or receive payments and invoicing directly from the app. You can even automatically bring in transactions from your other bank accounts via so-called Open Banking - this means you could carry on using an existing business account if you have one and you'd rather not switch, and we'll still get what we need. It's free, or you can upgrade to their paid plan for free foreign currency exchange, free replacement cards and to send more than 3 invoices a month - free for the first 3 months for our clients.
How does it work?
As soon as you sign up for a new package with us, we get Coconut to send an invitation for you to apply for a new account, with a discount offer if you want to take their paid plan. Use the account and debit card for all your business transactions (or link the app to your existing business account via Open Banking if you'd rather not switch) and we monitor it, along with the other taxable events that you tell The Bean Counter about, and keep your tax-estimation up to date.
How does The Bean Counter and Coconut work together?
Your business current account is only part of your tax story. Tell The Bean Counter about business transactions in any accounts not linked to Coconut, cash transactions and any business mileage you incur, and we get a full 360-degree view of your tax affairs. You can also tell us about any PAYE income you receive from employment and any one-off events. This combination is perfect for both self-employed and limited company setups, and it means we can provide an accurate-as-possible ongoing estimate of what you’ll owe in taxes and when you’ll need to pay.
Perfect for the newly self employed or sole trader.
Sales under £150k per year
Self employed or small business
Business current account and debit card from Coconut* (or link an existing account to their app)
Know what you'll owe, save as you go
We prepare and submit the paperwork, including your self-assessment tax returns
Limit your personal liability and remove funds via a tax-efficient salary and dividend package.
Sales up to £10.2m per year
Limited company business
Limited company account and debit card from Coconut* (or link an existing account to their app)
Know what you'll owe, save as you go - with salary and dividends efficiency
We prepare and submit the paperwork, including your corporation tax returns and one director's self-assessment tax returns
In case the Go or Grow packages we've put together don't suit your needs.
Need something more bespoke?
Want access to fully featured accounting software?
Already have your own bookkeeping software or bookkeeper?
Landlord or only need a single tax return?