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MTD NatWest FreeAgent, any good?

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Is anyone using the FreeAgent software provided to NatWest customers for free (currently) and if so is it any good?

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By pjd17mini
20th Mar 2019 11:12

It has its limitations and so doesn't fit for all clients, but it's easy to use and for most clients to get the hang of without too much training.

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By Cheshire
20th Mar 2019 11:26

Not seen anything yet from them re MTD, but I do keep getting emails about the doddle of a tax return submission by using it, a wee bit like the QB TV ad.

Some of the spin

If you found completing and managing your recent tax return a hassle, here's some good news. We've teamed up with FreeAgent to bring you award-winning online business accounting software for free. It's so effective when it comes to tax, invoices and everything in between, it could save you a day a month on admin.*

*Survey of FreeAgent customers conducted in January 2017 with 366 total respondents.

FreeAgent calculates your SA liability, populates 90% of the form for you and lets you submit your return directly to HMRC.

FreeAgent can cost up to £417** a year, but as a NW/RBS customer it wont cost you anything.

**£417 is the maximum cost payable for a year. The service is currently offered free to NatWest customers. Any change to that would be communicated in sufficient time to allow customers to make alternative arrangements should they wish to.
Love the word 'currently', which was not there when they first started bombarding me!

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By Duggimon
20th Mar 2019 12:07

It's decent and a million miles ahead of anything else you'll get for free. For a small business where £20 a month would be a big cost I would suggest working around any limitations and really, for simple businesses, it's got everything you need.

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By Louisemunro320
20th Mar 2019 12:14

We have started using freeagent and its easy to explain to clients (most dont want to pay for software training so it does the job). Basic suppliers/customers ledgers for not for larger clients. Similar to Xero but cheaper and easier to use. Less likely for client to get into a mess

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By johnt27
20th Mar 2019 16:18

It's an excellent product for the niche it's aimed at - freelancers, contractors and small one man (person) bands. I haven't used it for a while but I'm told that partners can prepare and submit micro accounts as well as CT and IT returns from the software.

Once businesses start to expand above this niche you'll soon stretch its inherent limitations and you'll want to consider a move to Xero or QBO.

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Replying to johnt27:
By Maslins
20th Mar 2019 16:23

johnt27 wrote:

It's an excellent product for the niche it's aimed at - freelancers, contractors and small one man (person) bands.

This. It's a fairly big niche. Also to stress it's not the case that as soon as you take on an employee it's no longer suitable. However, if you get to a dozen employees, whilst it could cope, you're likely to find other solutions may be better suited. Eg its reporting is a bit basic, not much cop for detailed management accounts as an example.
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By Matrix
20th Mar 2019 18:56

I rate FreeAgent highly and clients generally can use it themselves. The fact that it is free for NatWest customers makes it an easy sell, assuming it is right for their business as already mentioned.

Some new clients have set up bank accounts with NatWest for this reason and some clients who happen to have a bank account with them have now moved software.

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By Goffey
21st Mar 2019 09:10

They are offering it for free, at the moment, but in the small print you are also authorizing them to review your accounts whenever they see fit. So your bank has access to all your accounts and information.

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Replying to Goffey:
By atleastisoundknowledgable...
21st Mar 2019 09:18

Surely there’s a difference between FreeAgent Ltd (Ed. ?) reading your accounts and then letting NatWest plc doing so? Data Protection? Misuse of data?

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Replying to Goffey:
By JCresswellTax
21st Mar 2019 09:17


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