The simple solution for sole trader and landlord.

Coconut is a simple accounting and tax app that makes it easy for sole traders to stay on top of their bookkeeping all year round, and easily share their records and receipts with their accountant through the Coconut Portal.

Coconut software is built specifically for the needs of your smallest clients, simple enough for them to engage with but smart enough to streamline and optimize your practice’s workflows.

Your clients can connect Coconut to 30+ current account and credit card providers so that they can keep all their business records organised. You can run your practice using Coconut for all your self-employed and unincorporated landlord clients, no matter who they choose to bank with. 

Coconut provides banking, bookkeeping, invoicing and receipt capture to your clients in one simple tool. We categorise transactions ready for year-end accounts and tax filings in real-time, freeing you up to do the work your clients value most.

AIA Member Benefit

Join the Partner Programme as an AIA Member, you will receive an additional 10% discount on top of our direct offers, complemented by seamless client onboarding and a dedicated Account Manager.

Find out more about Coconut

 

Latest Insights

A formidable new end-to-end accounting and tax solution?

You’ve probably already heard of Coconut. Some of your clients may already use it. Coconut was in fact launched in 2018 by Sam O'Connor and Adam Goodall as a digital current bank account for small businesses, but the ex-PwC fintech entrepreneurs pivoted their brand and Coconut became a bookkeeping/accounting app created with the needs of sole traders and freelancers in mind.

The early summer brought the surprise announcement that Coconut had been bought by GoSimpleTax, the Self Assessment tax return filing software solution. Sam O'Connor said: “The combination of GoSimpleTax and Coconut will create a formidable player in the accounting software space, filling the gap left by the traditional cloud players for a simple solution for self-employed people, landlords and micro businesses.”

Simple and efficient

As Adam Goodhall explained: “Coconut accounting software is a simple and efficient solution for self-employed people, landlords and their accountants and bookkeepers. It helps prepare the figures needed for tax filing, but doesn’t do the submission to HMRC.

Since 2015, GoSimpleTax has been providing tax-filing software for self-employed, property and other types of income taxed under Self Assessment.

“The combination of Coconut’s accounting software and GoSimpleTax’s tax return filing software and expertise will provide Coconut users and accountant partners with an end-to-end bookkeeping to tax return-filing solution, one that’s potentially suited to the needs of millions of UK taxpayers.”

Obvious fit

James Cryne, co-owner of GoSimpleTax, says there is an obvious fit between Coconut and GoSimpleTax. “They’re both remarkably easy to use and they provide many time- and money-saving features. Both have been created with the practical needs of small businesses and their accountants and bookkeepers as a key driver.

“GoSimpleTax continues to grow by attracting large numbers of new users, with many of them sole traders or landlords who also need bookkeeping support. Buying Coconut made perfect sense for GoSimpleTax. The link up provides significant added value for both GoSimpleTax and Coconut users.”

GoSimpleTax is retiring its own invoicing and bookkeeping solutions and users are being encouraged to start using Coconut instead. Cryne adds: “By December 2023, initial integration between GoSimpleTax and Coconut should be achieved, so that the necessary figures will automatically transfer from Coconut into GoSimpleTax, making it even easier for self-employed people, landlords, accountants and bookkeepers to fill out and file Self Assessment tax returns, saving them lots of time and hassle in the process.”

Software for accountants

The team behind GoSimpleTax previously started Keytime, which they built into one of the biggest suppliers of practice software for accountants. They have a lot of experience of providing software to accountants; the Coconut acquisition is a continuation of that.

“Accountants and bookkeepers who use Coconut should check out GoSimpleTax,” Cryne adds. “They can take advantage of a free trial. Partner subscriptions cost less than £60 for the tax year, which offers excellent value. We’ll certainly be encouraging GoSimpleTax users to use Coconut. Using both together makes perfect sense, because it offers a complete end-to-end solution.”

In a nutshell

  • The Coconut app enables self-employed people, landlords and others to record their income and costs, send and track own-branded invoices, scan and store receipts, categorise costs, claim tax expenses and set aside enough for tax.
  • Coconut is used and recommended by many accountants and bookkeepers.
  • GoSimpleTax is award-winning software that saves sole traders, landlords, other taxpayers, accountants and bookkeepers lots of time, money and hassle when it comes to Self Assessment tax returns. It can also prevent costly mistakes.
  • Many accountants and bookkeepers already use GoSimpleTax, too.
  • Visit getcoconut.com/accountants and www.gosimpletax.com/aia  for more information.  
  • Should you wish to join the Coconut Partner Programme as an AIA member, you will receive an additional 10% discount on top of our direct offers, complemented by seamless client onboarding and a dedicated Account Manager. Find out more here