Coconut Partners with Zempler Bank in Industry First to Support Millions Ahead of MIT Deadline

North West-based accounting software fintech Coconut has unveiled a pioneering integration with digital business bank Zempler to assist the millions of sole traders and landlords impacted by the forthcoming Making Tax Digital for Income Tax (MTD IT) deadline*. The collaboration will simplify tax preparation and submission – entirely free of charge.

This partnership establishes a new standard for cooperation between fintech firms and banks to provide essential support for the UK’s self-employed community ahead of Government reforms.

From April 2026, self-employed taxpayers will no longer be able to rely on HMRC’s free Self Assessment tool. Instead, they must submit quarterly tax updates using commercial software.

The reforms highlight the importance of having a dedicated business account to ensure personal and business finances remain separate.

As part of the agreement, customers can open a Zempler Business Bank account directly during the Coconut sign-up process. Those who do will receive two years’ free access to Coconut’s HMRC-recognised software – worth up to £238.

Tailored for sole traders and landlords, Coconut’s app and desktop platform simplify financial management, Self Assessment returns, and compliance with MTD without the burden of complex accounting systems.

The integration with Zempler creates a seamless all-in-one platform, enabling users to manage payments and bookkeeping, track income and expenses, scan receipts, raise invoices, and monitor estimated tax bills throughout the year.

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.”