Editor | 21 January 2019

NatWest and RBS Business Customers: How to Access FreeAgent For Free

If you are a NatWest or Royal Bank of Scotland (RBS) small business customer, you can access the FreeAgent cloud accountancy software platform for free.

If you use either of these services, Cloud Accountant can help you get set up on the software for free, with additional support from a team of qualified accountants.

You can also sign up for the software for free on the NatWest or RBS website.

The FreeAgent platform makes managing small business finances quick and easy. It can speed up the tax returns process and allows businesses to forecast for the future.

The software, which can be accessed online from any location, has an advanced range of features, including:

  • Photo receipt capture and filing system
  • Invoice tracking
  • Self-assessment auto-fill
  • Finance dashboard
  • Easy communication with your accountant

Edinburgh-based FreeAgent was acquired by RBS in 2018. The software was designed for self-employed people, contractors and small businesses with fewer than 10 employees. 

Get ready for Making Tax Digital

Tax is changing in the UK. Making Tax Digital (MTD) is a government initiative that means businesses will soon need to use digital accounting software to handle their accounts.

MTD reporting for VAT will become compulsory from 1st April 2019 for all VAT-registered businesses.

This means that all businesses that are above the £85,000 VAT threshold will be required to keep digital VAT business records using HMRC-approved software. FreeAgent and other accounting software like Xero have already received MTD approval.

MTD will eventually cover other taxes, including income tax and corporation tax. But these components have been placed on hold until April 2020 at the earliest.

Getting the most out of FreeAgent

FreeAgent was not designed to replace your accountant entirely. Small businesses and contractors can get the most out of the software if they use an accredited FreeAgent accountant.

With a FreeAgent accredited accountant, you get all the support of a traditional accountant at a fraction of the cost.

Your FreeAgent accountant will help compile the company accounts at the end of the year. And if you ever have a problem or question, then your accountant can securely log-in to your accounts to help resolve the issue.

Cloud Accountant offers accountancy support packages with popular cloud-based platforms FreeAgent, Xero and Sage One. Get in touch for more information. Call: 0808 281 0303, email: team@cloudaccountant.co.uk or visit www.cloudaccountant.co.uk