Going Self employed - Best Bank ? Best Accountancy Provider ? Best Card Payment processor?

Rotor · Jan 8, 2026

I ``ll be going self employed around March time , previously an MD/ employee of my own Ltd Co, expected turnover only around £30k

I`m interested in peoples findings and thoughts for the best bank/accountancy package/card payment processor.

Thank you

ctrlbrk · Jan 8, 2026

There's never a "best".

"Best" is always subjective, based on your own preferences.

Mark T Jones · Jan 8, 2026

First questions

Will you have specific requirements beyong electronic/card transfer?

What volume of transactions are you expecting?

Are you likely to need to actually visit a bank?

Rotor · Jan 8, 2026

Mark T Jones said:
First questions

Will you have specific requirements beyong electronic/card transfer? No , just need a payment machine that people can pay through, needs to be portable though.

What volume of transactions are you expecting? Less than 10 a month , average payment ammount £150-£250.

Are you likely to need to actually visit a bank? No.

TIA

Lisa Thomas · Jan 8, 2026

Might also depend on a recommendation from your accountant and what they like to work with. Do you have an existing accountant/one lined up?

Rotor · Jan 8, 2026

Lisa Thomas said:
Might also depend on a recommendation from your accountant and what they like to work with. Do you have an existing accountant/one lined up?

I have bookkeeper lined up , was hoping not to need an accountant due to the cost of them.

GLAbusiness · Jan 8, 2026

Rotor said:
I have bookkeeper lined up , was hoping not to need an accountant due to the cost of them.

Not a good plan. Bookkeeping and accounting are very different. The fact that an accountant costs more reflects the different skill sets and the value they can bring to your business. I keep bookkeeping in house using FreeAgent and pay my accountant who adds value

Lisa Thomas · Jan 8, 2026

Rotor said:
I have bookkeeper lined up , was hoping not to need an accountant due to the cost of them.

Eek. Mistakes can be even more costly! Definitely worth reconsidering that decision. I can recommend if you don't find one on here.

DontAsk · Jan 8, 2026

Rotor said:
previously an MD/ employee of my own Ltd Co,

Doesn't make sense. You must already have a business account.

eteb3 · Jan 8, 2026

DontAsk said:
You must already have a business account.

Not that the sole trader can use. The Ltd is a different person (as any fule kno)

WaveJumper · Jan 9, 2026

Quick questions as may have missed something here?

Are you keeping the LTD
And why would you need a book keeper for a 30k business (or is this position for your new business)
If the latter what sort of turnover are you predicating for this

HFE Signs · Jan 9, 2026

I'm not sure, but I can tell you who the best printers are

GLAbusiness · Jan 9, 2026

Rotor said:
I ``ll be going self employed around March time , previously an MD/ employee of my own Ltd Co, expected turnover only around £30k

I`m interested in peoples findings and thoughts for the best bank/accountancy package/card payment processor.

Thank you

Were you satisfied with the bank and accounting package you used in your Ltd. If so why not use them.

Was your Ltd a failure

YasmeenLondon · Jan 9, 2026

I recommend Natwest Business Account and you get FreeAgent included, the mobile app works great and never needed more.

Card payment processor I use stripe, never had any issues with them so I recommend them as well.

Finally, another vote to hire an accountant to go through your business accounts and submit returns, it's much less costly hiring an accountant than fixing a mistake with HMRC.

DontAsk · Jan 9, 2026

eteb3 said:
Not that the sole trader can use. The Ltd is a different person (as any fule kno)

Any fool can see that he will have experience of having a business account by doing of previously running a ltd co. That should help inform his choice.

Rotor · Jan 10, 2026

DontAsk said:
Doesn't make sense. You must already have a business account.

You cant use a Ltd co account for a different business.

Rotor · Jan 10, 2026

WaveJumper said:
Quick questions as may have missed something here?

Are you keeping the LTD
And why would you need a book keeper for a 30k business (or is this position for your new business)
If the latter what sort of turnover are you predicating for this

No the Ltd Co is being transferred to a new owner.

I like a bookkeeper because I dont want to spend my time keeping accounts , I`d rather pay someone else , all I have to do is give the bookkeeper purchase and sales invoices .

GLAbusiness · Jan 10, 2026

Rotor said:
all I have to do is give the bookkeeper purchase and sales invoices .

There may be some bookkeepers on here who can comment further, but this seems over simplistic to me.

My first thoughts on what you would want the bookkeeper to do are:

Reconcile bank accounts
Enter the details in your accounting package
Prepare VAT returns (if you are vat registered)

cjd · Jan 10, 2026

With an 'expected' turnover of £30k, you can't really afford anybody to do anything for you! What are the gross and net margins for this business?

DontAsk · Jan 10, 2026

Rotor said:
You cant use a Ltd co account for a different business.

Once again, that's not what I suggested.

Shaunk3232 · Jan 28, 2026

I use virgin for our business never had any issues. As an accountancy practice ourselves a bookkeeper should be offering more that just processing your sales and purchasing invoices. And I would definitely suggest getting an accountant even if it's just for the year end filing. Mistakes can be very costly and mount up quickly

Rotor · Jan 28, 2026

cjd said:
With an 'expected' turnover of £30k, you can't really afford anybody to do anything for you! What are the gross and net margins for this business?

Out of the £30k I`ll probably draw £28k as income , I offer a service not products , semi retirement job.

MyAccountantOnline · Feb 2, 2026

Rotor said:
Out of the £30k I`ll probably draw £28k as income , I offer a service not products , semi retirement job.

Someone here recommended FreeAgent - I'll second that recommendation. If you are operating a service business and automate using the software, unless you've got a huge volume of transactions, you'll probably take less than an hour a month to do your bookkeeping.

Bear in mind it's an accountant who will save you tax and ensure you comply with all necessary accounting and tax requirements, a bookkeeper will simply be recording transactions for you.

CassieJ · Feb 4, 2026

Quickbooks is quite good and Monzo Business for bank account.

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Going Self employed - Best Bank ? Best Accountancy Provider ? Best Card Payment processor?