Coconut launches industry first partnership with Zempler bank to support millions set to be impacted by Government’s MTD deadline
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.”