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Published 07 May 2024
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FreeAgent Accounting Software Review: Pros, Cons & Features

Find out where FreeAgent accounting software stands out, and falls short, with our review.

Many or all of the products and brands we promote and feature including our ‘Partner Spotlights’ are from our partners who compensate us. However, this does not influence our editorial opinion found in articles, reviews and our ‘Best’ tables. Our opinion is our own. Read more on our methodology here.

FreeAgent is an accounting software platform offering plans for sole traders, partnerships, limited liability partnerships (LLPs) and limited companies.

The price of a FreeAgent plan is based on your business structure, rather the number of features you want. This means that you can access the same tools as a sole trader and as a limited company.

With FreeAgent, you can also run payroll at no extra cost, and submit your self-assessment tax returns directly to HM Revenue & Customs (HMRC).

» MORE: Best accounting software for small businesses

Key features

Key features

  • Free with NatWest Group business accounts
    You can get a full FreeAgent account for free while you retain a business account with NatWest, RBS, or Ulster Bank – or if you make at least one transaction a month through a Mettle bank account.
  • Making Tax Digital-compliant
    All FreeAgent plans are compliant with MTD requirements.
  • Self-Assessment tax returns
    With FreeAgent, you can auto-populate your self-assessment tax return, and file it directly with HMRC.
  • Free payroll services
    FreeAgent doesn’t charge an extra fee for its payroll services.

FreeAgent accounting software pros & cons

Pros

Cons

The pros and cons featured here are chosen by us based on our expert, research-based opinions. They are unlikely to be the only product features and restrictions that you should consider. Pros and cons are subjective and you should align them to your own personal and business circumstances. Information was correct at the time of publication but may have changed since. 

FreeAgent accounting software full review

Founded in 2007 and acquired by NatWest Group in 2018, FreeAgent is an accounting software company based in Scotland.

Thanks to the acquisition by NatWest Group, you can access a full FreeAgent account for free if you have a business bank account with NatWest, RBS, or Ulster Bank – or if you make at least one transaction a month through a Mettle bank account.

If you don’t have a business account with one of those providers, how much you pay for FreeAgent will depend on your business structure. 

Excluding VAT and after any introductory free trial or discount offer, you will pay:

All FreeAgent plans are compliant with Making Tax Digital. It is now a requirement of the UK government that you use MTD compatible software when submitting returns as a VAT-registered business. Further MTD rules for others will be introduced in April 2026 and 2027.

With your FreeAgent account, you will be able to:

FreeAgent accounting software features: at a glance

Monthly fee (pre-discounts, pre-VAT)Free (with NatWest, RBS, or Ulster Bank business bank accounts – or if you make at least one transaction per month through a Mettle bank account)
£19 (Sole Trader)
£27 (Partnerships and LLPs)
£33 (Limited Company)
Free trial30 days
Making Tax Digital compliantYes
Submit VAT to HMRCYes
Payroll costs per month (for five employees, pre-discounts, pre-VAT)Free
Multi-user accessYes
Multi-currency accountingYes
Customer serviceAutomated live chat
[email protected]
0800 288 8691

9am to 5pm Monday to Thursday, 9am to 4pm Fridays

Where FreeAgent stands out

Free with NatWest Group providers: If you open, or switch to, a business account with NatWest, RBS, Ulster Bank or Mettle, you can get a full FreeAgent account for free. With Mettle, you will need to make at least one transaction a month to maintain access to FreeAgent.

Free trial and introductory offer: When you sign up for a FreeAgent account, you will get a 30-day free trial. FreeAgent also offers discounts, which can vary depending on when you apply. At the time of writing, FreeAgent is offering a 50% discount on your monthly fee for the first six months, or 50% off your first year if you choose to pay annually.

Making Tax Digital-compliant VAT returns: All FreeAgent plans are MTD-compliant, and allow you to submit your VAT returns directly to HMRC.

Self-Assessment tax returns: Through your FreeAgent account, you can auto-populate certain sections of your self-assessment tax return, and submit it directly to HMRC. 

Payroll: Unlike many other accounting software providers, FreeAgent includes the ability to run payroll for free.

Time tracking: Every FreeAgent plan comes with the ability to track the time spent on projects, add this information to invoices, and generate timesheets. 

Customer reviews: FreeAgent has an ‘Excellent’ rating on Trustpilot, alongside very positive ratings for its mobile app on iOS and Android.

Where FreeAgent falls short

Monthly fee: At £19 a month (excluding VAT) once the introductory offer has ended, the FreeAgent sole trader plan is more expensive than comparable accounting software products.

Customer service times: You can only contact FreeAgent for support from 9am to 5pm Monday to Thursday, and 9am to 4pm on Fridays.

FreeAgent customer reviews

FreeAgent’s customers have left reviews on a range of sites. Generally, these reviews are very positive.  

This information is correct as of 3 May 2024.

Review methodology

At NerdWallet UK, we base our reviews and our ‘Best’ pages on the results of surveys we undertook about what was important to people who use these products. This allows us to look at products impartially of any commercial arrangements we have and fairly rate the products on the same set of criteria.

Best means our ‘Best’ and is based only on what products we have aligned to our surveys, which form the basis of our reviews and ratings. This means that there will be other products on the market that we have not included in our ‘Best’ pages. Best does not mean it’s best for you, nor does it mean the ‘cheapest’.

Our reviews may display lenders’ rates. This additional information has not been included in our evaluations but is still very important when choosing a product. Rates offered can depend on circumstances, amount and term. Always check details before proceeding with any financial product.

Product details reflect the information that was available at that time but may have changed since. We strive to give you a review on as many products as possible, but there will be products not included on the market. The review is our opinion, but it does not constitute advice, recommendation or suitability for your financial circumstances.

You can view our full review methodology here.

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