Coconut partnership
17 September 2025
North West-based Accounting software fintech Coconut has announced a first-of-its-kind integration with digital business bank Zempler to support the millions of sole traders and landlords affected by the upcoming Making Tax Digital for Income Tax (MTD IT) deadline*. The joint offering will simplify and streamline tax preparation - completely free of charge.
The partnership sets a new benchmark for the fintech and finance industries to collaborate to support Britain’s self-employed ahead of Government’s upcoming changes.
From April 2026, millions of self-employed individuals will no longer be able to use HMRC’s free Self Assessment service. Instead, they’ll be required to submit quarterly digital tax updates by purchasing commercial software.
The upcoming changes will make it even more important for sole traders to open a separate business current account to keep personal and business finances separate.
As part of the partnership, customers can open a Zempler Business Bank account directly through the Coconut sign-up journey and app. Those who do will receive free access to Coconut’s HMRC-recognised accounting software for two years - a saving of up to £238.
Coconut’s mobile and desktop software is designed specifically for sole traders and landlords, making it easy to manage finances, submit Self Assessment tax returns, and stay compliant with the new MTD rules, without the complexity of traditional accounting tools.
Through its partnership with Zempler, the combined offering gives users a fully integrated solution: track income and expenses in real time, snap and store receipts, manage and send invoices, view estimated tax bills year-round, and handle payments and bookkeeping - all from one simple, connected platform.
James Cryne, Director at Coconut, said: “This partnership with Zempler means we can help even more sole traders and landlords get ready for MTD with minimal fuss and zero cost. Together, we’re removing barriers and making it easy to stay compliant while giving people the tools they need to run their businesses more smoothly.”
Nick Biggam, Commercial Director at Zempler Bank, said: “We’re excited to be part of launching the UK’s first embedded sign-up process for an MTD tax solution and Sole Trader Business Bank Account, allowing Sole Traders to completely digitize and improve their money management in just a few minutes. Recent research we conducted shows that almost one-in-five entrepreneurs said managing tax affairs was a significant issue for running their business, so this will hopefully make life much easier for them.”
Notes to Editors
*From 6 April 2026, all sole traders and landlords earning over £50,000 per year will need to switch to MTD-compatible software. In 2027, the income threshold will drop to £30,000, affecting a further 1.2 million people and again in 2028 when it lowers to £20,000. For those used to the free HMRC Self-Assessment tool, the changes mean they’ll need to switch to a commercial digital solution.
About the partnership
To activate the offer, Sole Traders just need to sign up to Coconut and opt into opening a Zempler business bank account at the same time during the sign-up journey, or they can do so later within the App. Whilst both accounts are live, their Coconut plan is automatically upgraded to free for up to 24 months.
The offer launches in July 2025. To claim two years of Coconut for free:
- Create a Coconut account
- Open a Zempler bank account when prompted
- Once both are live and you’ve paid money into your new Zempler Account, your Coconut plan will automatically upgrade to free for 24 months
To find out more, visit:
X: @getcoconut
LinkedIn: getcoconut
Instagram: @getcoconut
Facebook: getcoconut
About Coconut
Coconut is a leading provider of modern accounting and tax tools built specifically for sole traders, CIS Subcontractors, and landlord professionals in the UK. Designed to simplify financial management, Coconut offers powerful features for expense tracking, invoicing, and tax preparation. The platform is fully compatible with Making Tax Digital for Income Tax, helping users stay compliant and in control of their finances. Coconut’s mission is to make self-employment easier by removing the stress of managing money and taxes.
About Zempler
Zempler Bank was formerly known as Cashplus Bank and rebranded on 9th July 2024. Zempler is a leading business focused digital bank with a track record of product innovation, dedicated customer service and strong financial performance. The company was granted a UK bank licence in February 2021. Zempler offers simple, smart digital banking services for the entrepreneurs, independent businesses and hard-working consumers that power the UK economy yet are too often overlooked by high street banks. Zempler has opened more than 2.2m accounts to help customers to pay, bank and borrow through a user-friendly digital platform, delivered a string of fintech firsts, and built a resilient, growing business providing more than 300 jobs in the UK with locations in London and Liverpool.
Media Contacts
GoSimpleTax:
Jessica Wilkinson
07590 056909
Ella Broadbent
Zempler Bank:
Alex Moorhouse
Corporate Affairs Director, Zempler Bank
+44(0)7834 780 299