Countingup Review UK 2026: In-Depth Analysis

Countingup is a UK fintech that fuses two products that small businesses normally buy separately: a business current account and a cloud bookkeeping tool. Every card payment, transfer and direct debit lands inside the same app that produces invoices, estimates tax and files MTD VAT. For sole traders and one-person limited companies who would rather avoid the bank-feed dance between Starling and Xero, the appeal is obvious. This review walks through pricing, features, MTD compliance, integrations and the scenarios where Countingup is, and is not, the right choice in 2026.

Quick verdict

• Best for: sole traders, freelancers and micro-businesses turning over up to roughly £90,000 who want banking and books in one mobile app.
• Not for: growing limited companies that need formal accounts production, multi-user access, project costing or detailed management reporting.
• Headline price: £3 per month on the Starter tier, rising to £9 and £18 per month based on monthly deposit volume.
• Free trial: three months at no charge before the subscription begins.
• MTD status: HMRC-recognised through the Accountant Hub for MTD VAT submissions.
• Deployment: mobile-first, with a desktop Accountant Hub for adviser access.

What is Countingup?

Countingup launched in September 2017, founded by Tim Fouracre, a chartered accountant who had previously built and run cloud bookkeeping platform Clear Books for nine years. The thesis behind Countingup was straightforward: the bookkeeping problem most micro-businesses face is not which software to buy, it is the friction of reconciling a separate bank account into it every month. By owning the account itself, Countingup can categorise transactions the moment they hit the ledger and produce a usable set of figures without the user touching a spreadsheet.

The business is operated by Counting Ltd, registered in England under company number 10729748, and is backed by Sage and ING Bank as strategic investors. Countingup reports more than 100,000 UK small businesses on the platform.

The target user is unambiguous. The home page leads with the line “the business current account for sole traders, freelancers and self-employed”, and the product is built around the cash-basis, single-director reality of those users. Limited companies can open accounts and many do, but Countingup does not produce statutory accounts or corporation tax returns; that work still has to happen elsewhere.

The current account is an e-money account provided under FCA regulation, not a fully licensed bank account. Funds are safeguarded rather than protected by the Financial Services Compensation Scheme, which is a material distinction for businesses holding large balances and is covered in the cons section below.

Pricing breakdown

Countingup uses a tiered subscription priced on monthly deposits into the account, plus a small set of transaction fees that apply on every tier from day one. A three-month free trial of the subscription element runs before billing starts. Transaction charges apply throughout the trial.

Tier	Monthly deposits	Subscription
Starter	£0 to £750	£3 per month
Standard	£750 to £7,500	£9 per month
Premium	Over £7,500 (unlimited)	£18 per month

All three tiers include the same features: business current account, debit Mastercard, invoicing, payment links, receipt capture, automatic categorisation, real-time tax estimates, MTD VAT filing and Accountant Hub access. The price step reflects expected usage, not a feature gate.

Transaction fees, applied on every tier:

Action	Fee
Account transfers in or out	30p
Direct debit out	30p
Foreign card transactions	3 per cent of cleared amount
ATM withdrawals	£1 per withdrawal
Post Office cash load	0.5 per cent (minimum £2)
PayPoint cash load	3 per cent
Replacement card	£5

Worked example

Take a self-employed photographer turning over £40,000 a year, depositing roughly £3,300 a month. They sit on the Standard tier at £9 per month, or £108 per year. They issue around 20 invoices a month (no per-invoice fee), receive 18 of those payments by bank transfer (18 x 30p = £5.40) and pay six suppliers by direct debit (6 x 30p = £1.80). Total monthly cost of around £16.20, or about £195 per year.

For comparison, a Xero Standard plan plus a free Starling business account would cost £39 per month at standard list price, before any subscription discount. The arithmetic is one of the strongest selling points in the Countingup pitch.

Core features in depth

Business current account

The account ships with a contactless Mastercard debit card, sort code, account number and Faster Payments. Cash can be deposited at more than 27,000 Post Office and PayPoint locations across the UK; cheques are not accepted. The account does not pay interest and does not offer overdrafts or business loans.

The card supports Apple Pay and Google Pay and works internationally with the 3 per cent foreign exchange charge applied at the cleared transaction amount. There is no separate currency conversion margin disclosed beyond that fee.

Automatic bookkeeping

Every transaction that touches the account is categorised against a built-in chart of accounts the moment it clears. Users can override categories, split transactions, attach a receipt photograph and add a note. Because there is no external bank feed, there is no reconciliation step in the traditional sense; the bank ledger and the bookkeeping ledger are the same dataset.

This is the structural advantage Countingup leans on most heavily. For users coming from a spreadsheet or an annual shoebox-of-receipts approach, it removes the highest-friction part of bookkeeping.

Invoicing and payments

Invoices are created in the app, branded with a logo and sent by email or shareable payment link. The links accept card payments through a Stripe integration and the funds settle directly into the Countingup account. There is no monthly cap on invoices and no per-invoice charge from Countingup itself; standard Stripe processing fees apply on card payments.

Receipt capture

Photographs taken inside the app are matched against the relevant card transaction and stored with it. The receipt is then available to an accountant through the Accountant Hub, which is useful at year end and for any HMRC enquiry.

Real-time tax estimates

Countingup runs a continuously updated estimate of self-assessment income tax and National Insurance based on the categorised income and expenses, using 2025/26 thresholds. A “tax pot” feature lets the user move money sideways into a notional savings bucket so the tax money is visibly set aside.

Reporting

Reports include profit and loss, expense breakdown by category, VAT summary and a month-by-month income view. Exports to CSV and PDF are available. There is no balance sheet, no trial balance and no fixed asset register; reporting is built for cash-basis sole traders rather than for the requirements of a limited company filing statutory accounts.

Payroll

Countingup does not include payroll. A user with employees needs a separate payroll product such as BrightPay, Moneysoft or Sage Payroll, with the net wage payments made from the Countingup account and re-categorised manually.

CIS

Countingup does not provide Construction Industry Scheme functionality. Subcontractors in CIS will need a different product or a manual workaround.

MTD and HMRC compliance

Countingup is HMRC-recognised software for Making Tax Digital for VAT through its Accountant Hub. VAT-registered users can prepare a return inside the app and either submit it themselves or have an authorised accountant submit it through the Hub. The product files on an accrual basis, and Countingup was the first business current account in the UK to support this.

Self-assessment is handled at estimate level only inside the app. The platform does not file a self-assessment return to HMRC; the user or their accountant exports the figures and submits separately, either through the HMRC online portal or through dedicated SA software.

For Making Tax Digital for Income Tax Self Assessment (MTD ITSA), Countingup has not announced a confirmed direct ITSA submission route at the time of writing. Users who fall within the £50,000 turnover MTD ITSA threshold from April 2026 should check the latest position with their accountant; the Accountant Hub model means submission is most likely to flow through the adviser’s tax software using Countingup data as the digital record.

Corporation tax filing is not in scope. Limited company users have to use a separate filing route through accounts production software, typically operated by their accountant.

Integrations

Countingup is a closed ecosystem by design. There is no open API marketplace and no standard accounting export to Xero, QuickBooks or Sage; the bookkeeping is intended to live inside Countingup itself. The integrations that do exist are:

• Stripe for card payments through the invoicing module.
• Apple Pay and Google Pay on the debit card.
• Accountant Hub, the desktop adviser portal, which gives an authorised accountant read-and-submit access to the client’s books and MTD VAT submissions without needing a separate licence.

The Accountant Hub is free for accountants. A practice can manage multiple Countingup clients from a single login, view transactions, attach notes, prepare and submit VAT returns and run reports.

There is no direct integration with practice management tools, payroll bureaux software, expense management apps, time-tracking products or e-commerce platforms. For users who genuinely operate one bank account and one income stream, this is rarely a problem; for anyone running multiple sales channels or needing inventory management, it is a hard constraint.

Pros

• Genuinely combined banking and bookkeeping. No bank feed to maintain, no reconciliation to chase, no duplicate logins.
• Low all-in cost. £3 to £18 per month covers both the account and the books, materially cheaper than running a Xero or QuickBooks subscription on top of a separate business account.
• Built in the UK for UK rules. VAT, real-time tax estimates and HMRC submissions are designed around UK tax thresholds, not retrofitted from a US or Australian product.
• Free Accountant Hub. Advisers do not need a paid licence, which removes a friction point when a client wants to bring in an accountant later.
• Three-month free subscription trial. Long enough to test the product through a full VAT period for many users.
• Cash deposit network. Post Office and PayPoint coverage is genuinely useful for trades and service businesses still handling cash.
• MTD VAT filing built in. No bridging software, no spreadsheet workaround.

Cons

• Not a full accounting system. No balance sheet, no trial balance, no fixed asset register, no journal entries in the usual double-entry sense. Not suitable for a limited company that needs statutory accounts produced from the same dataset.
• No payroll. Has to be bolted on with a third-party tool.
• No CIS support. A meaningful gap for construction subcontractors.
• Closed ecosystem. No general API, no Xero or QuickBooks export, no third-party app marketplace.
• E-money account, not a bank. Funds are safeguarded under FCA rules but not covered by the FSCS. Larger balances should not sit in the account.
• Mobile-first. The desktop experience for the user is limited; serious data work has to happen on a phone or tablet.
• Subscription tied to deposit volume. Users approaching the next deposit threshold can find their subscription steps up unexpectedly.
• No multi-user access for the business owner. Only the account holder logs in; an accountant uses the separate Hub.
• Foreign exchange fee of 3 per cent. Higher than challenger bank competitors such as Starling and Tide on overseas spending.

When to pick Countingup

Countingup is the right choice when the user fits a specific shape:

• A sole trader, freelancer or self-employed contractor with one main income stream.
• A micro-business turning over up to around the VAT threshold, who wants to file VAT digitally without a separate subscription.
• A user who has previously kept their books in a spreadsheet, a notebook, or not at all, and who values having the bookkeeping done as a side effect of using the account.
• A new business that wants a single low-cost product covering banking and books from day one, with the option to bring in an accountant later through the free Hub.
• A trade or service business that still receives cash and needs the Post Office or PayPoint deposit network.

For users in this segment, the cost saving and the workflow simplicity are difficult to beat.

When NOT to pick Countingup

Countingup is the wrong choice in several common scenarios:

• Limited companies needing full statutory accounts. Use Xero, QuickBooks Online, FreeAgent or Sage Accounting paired with accounts production software.
• Businesses with employees. Countingup has no payroll; consider FreeAgent (which includes payroll on its top tier) or QuickBooks Online with an integrated payroll add-on.
• Construction subcontractors needing CIS. Look at Xero, QuickBooks or a dedicated CIS tool.
• High-balance businesses. The lack of FSCS protection is material; pair Countingup with a high-street business account, or move to Tide or Starling for the deposit side.
• Businesses with multiple sales channels needing integrations. Countingup has no app marketplace; Xero or QuickBooks are the obvious alternatives.
• Anyone who wants frequent overseas card spending. ANNA, Starling or Tide all offer better foreign exchange terms.
• Users who prefer a desktop interface. Countingup is built around the mobile app first.

Direct alternatives to consider include Tide Accounting for similar bank-plus-books functionality with stronger card features, ANNA Money for a comparable combined account with a friendlier reporting layer, Starling Business Toolkit as a £7 per month bookkeeping add-on to a fully licensed bank account, and Coconut for sole traders and landlords who want a closer fit to MTD ITSA workflows.

Comparable software

The closest products to Countingup all sit in the bank-plus-bookkeeping niche aimed at UK sole traders and the smallest limited companies. Below are the products most often considered alongside it.

FAQs

Is Countingup a bank?

No. Countingup is an e-money institution authorised and regulated by the Financial Conduct Authority. It provides a business current account but customer funds are safeguarded under FCA rules rather than protected by the Financial Services Compensation Scheme. Practically the account behaves like a bank account, with sort code, account number and Faster Payments, but the legal protection on balances differs.

Is Countingup HMRC-recognised for MTD VAT?

Yes. Countingup is listed by HMRC as recognised MTD VAT software through its Accountant Hub. VAT-registered users can prepare and submit returns from inside the app, and accountants can submit on a client’s behalf through the Hub.

Can a limited company use Countingup?

A limited company can open and operate a Countingup account and use the bookkeeping. However, Countingup does not produce statutory accounts, corporation tax returns or confirmation statements. A limited company will still need an accountant or separate accounts production software to file with Companies House and HMRC.

How much does Countingup cost?

Subscriptions are £3, £9 or £18 per month based on monthly deposits, with a three-month free trial. Standard transaction fees apply throughout, including 30p per inbound or outbound transfer, 30p per direct debit and 3 per cent on foreign card transactions.

Does Countingup do payroll?

No. There is no built-in payroll. Users with employees need a separate payroll product such as BrightPay, Moneysoft or Sage Payroll and pay net wages out of the Countingup account.

Can my accountant access my Countingup books?

Yes, through the free Accountant Hub. The user invites their accountant, who logs into a separate desktop portal to view transactions, attach notes, run reports and prepare or submit MTD VAT returns. There is no fee for the accountant.

Can I export my data out of Countingup?

Reports can be exported to CSV and PDF. There is no native one-click export to Xero, QuickBooks or Sage. Users moving away typically have to manually rebuild opening balances in the new system from the exported reports.

Does Countingup support MTD for Income Tax Self Assessment?

At the time of writing, Countingup has not confirmed a direct ITSA submission route. The Accountant Hub model means most users falling within MTD ITSA from April 2026 will likely have their accountant submit via professional tax software using Countingup data as the digital record. Confirm the current position with your adviser.

Is there a free trial?

Yes, three months free on the subscription element. Transaction fees still apply during the trial.

Final summary

Countingup is a focused, narrow product that does one thing very well: it removes the bank-feed-and-reconciliation friction that makes basic bookkeeping painful for sole traders and the smallest businesses. The price is genuinely low against the standard “challenger bank plus Xero” stack, the MTD VAT submission is built in, and the free Accountant Hub means an adviser can plug in later without the user paying for a second platform.

The trade-offs are equally clear. It is not a full accounting system, it does not file corporation tax or statutory accounts, it has no payroll, no CIS and no real integration ecosystem, and the underlying account is e-money rather than fully banked. The right user is a sole trader, freelancer or one-person limited company who wants their books done as a side effect of running their bank account, and who has an accountant for anything heavier. For that user, Countingup is one of the best-value combined products on the UK market in 2026.