Keep your bank.
Get real accounting.
Coconut bundles basic bookkeeping with a bank account - but forces you to use their bank. AccountsOS gives you AI-powered accounting that works with Starling, Monzo, Revolut, or any UK bank you already love.
Coconut
A bank account with basic bookkeeping bolted on. Great for sole traders, but limited for limited companies - and locks you into their bank.
- Must use their bank account
- Built for sole traders, Ltd is an afterthought
- Basic categorization, no tax optimization
AccountsOS
AI-powered accounting built for UK Ltd companies. Works with any bank you choose. Full accounting, not just bookkeeping.
- \"What's my Corporation Tax liability?\"
- Voice commands + proactive tax alerts
- Salary/dividend optimization, DLA tracking
The hidden cost of bank lock-in
Coconut bundles banking and bookkeeping - sounds convenient, right? Until you realize what you're giving up.
With Coconut, you lose:
- Your Starling 0.5% cashback on spending
- Your Monzo budgeting pots and salary sorting
- Your Revolut multi-currency and cheap FX
- Integration with apps you already use
- The ability to switch banks without starting over
With AccountsOS, you keep:
- Your existing bank account and all its features
- Your transaction history and relationships
- Your bank integrations (Xero, Stripe, etc.)
- Freedom to switch banks anytime
- Your accounting data, independent of your bank
What Ltd directors say about Coconut
Coconut works well for sole traders. But these are real frustrations from Ltd company directors.
"I'm stuck with their bank account"
Love your Starling cashback? Your Monzo pots? Your Revolut multi-currency? With Coconut, you have to give that up. AccountsOS works with any bank - keep the features you love.
"Ltd company support feels like an afterthought"
Coconut was built for freelancers and sole traders. Ltd support was added later - no director loan tracking, no proper dividend handling, no Corporation Tax optimization.
"It's bookkeeping-lite, not real accounting"
Coconut categorizes transactions and sets aside tax. That's it. No P&L reports, no balance sheets, no MTD submission, no Companies House deadline sync.
"What if I want to switch banks later?"
Tied to Coconut's bank means your transaction history, categories, and tax records are locked in. Switching means starting over. With AccountsOS, your accounting data is yours.
Feature-by-Feature Comparison
| Feature | AccountsOS | Coconut |
|---|---|---|
Works with any bank Keep your Starling, Monzo, Revolut, or any UK business bank. Coconut forces you to use their bank. | ||
Built for Ltd companies Corporation Tax, dividends, director loans. Coconut was built for sole traders. | Partial | |
Ask questions in plain English "What's my Corporation Tax bill?" vs checking dashboards | ||
Voice commands Hands-free expense logging while driving or working | ||
Proactive tax optimization AI finds savings you'd miss - salary/dividend split, expense claims, deadline alerts | ||
Companies House integration Auto-sync filing deadlines. Coconut doesn't touch Companies House. | ||
MTD for VAT ready Direct HMRC submission. Coconut has limited MTD support. | Partial | |
Director salary/dividend advice Optimal remuneration guidance for tax efficiency | ||
Bank account included Coconut is a bank first. AccountsOS works with your existing bank. | ||
Auto-categorization Both categorize transactions - AccountsOS uses AI, Coconut uses rules | ||
Receipt scanning Both capture receipts via photo | ||
Tax estimates AccountsOS: Corporation Tax + personal. Coconut: Self-assessment only. |
Coconut Pricing
£9.50-19/month
Banking + basic bookkeeping. Best for sole traders.
- + Bank account required (no choice)
- + Limited Ltd company features
- + Basic tax set-asides only
AccountsOS Pricing
£19/month
Full Ltd company accounting. Use any bank.
- + AI chat + voice commands
- + Corporation Tax + dividend optimization
- + Companies House deadline sync
Designed for sole traders. Ltd is bolted on.
Coconut was built for freelancers and the self-employed. Ltd company support came later - and it shows in the gaps.
Corporation Tax
Coconut focuses on Income Tax for sole traders. Limited Corp Tax support means Ltd directors miss optimization opportunities.
Salary vs Dividends
No guidance on the tax-optimal split. You're left guessing how much to pay yourself as salary vs dividends.
Director Loan Account
No DLA tracking means you won't know when you're approaching the S455 tax trap until it's too late.
Companies House
No integration means you're manually tracking confirmation statements, annual accounts, and CT600 deadlines.
P&L and Balance Sheet
Basic income/expense view only. No proper financial statements that your accountant or HMRC actually need.
MTD Compliance
Limited Making Tax Digital support. AccountsOS handles VAT returns and is ready for MTD for Corporation Tax.
When Coconut actually makes sense
We're not saying Coconut is bad - it's just built for a different user.
You're a sole trader or freelancer
Coconut was literally built for you. Self-assessment, simple income/expense tracking, tax pot set-asides.
You want banking + bookkeeping in one app
If simplicity matters more than features, having one app for everything has appeal.
You're just starting out
Pre-revenue, simple business, no complex tax planning needed yet.
But if you have a UK limited company?
You need accounting built for Corporation Tax, director remuneration, and Companies House - not bookkeeping adapted from a sole trader app.
Keep your bank. Get real accounting.
Free during Early Access. Works with Starling, Monzo, Revolut, or any UK bank. Full Ltd company accounting - not bookkeeping-lite.
Get Started FreeNo credit card required. No bank account switch needed.