Guide · Last checked 8 November 2026

Business accounts for UK sole traders and freelancers

Most app-based business accounts accept sole traders, but they ask for different things, and one big name doesn't. Here is what each account we've researched says.

By the editorial team. We may earn a commission if you open an Incard account through links on this site.

Do you need a separate account?

Tide's own sole trader page says a business account isn't a legal requirement for sole traders, though separating business and personal money makes accounts and tax easier. GOV.UK says you must keep records once you start trading, and register for Self Assessment if you earn more than £1,000 as a sole trader in a tax year.

Who accepts sole traders

**Table notes:** correct as of 8 November 2026, from each provider's own pages. Alphabetical, not ranked.
Account	Sole traders?	What they ask for	Cheapest plan
Airwallex	Yes	Proof of business address, photo ID and a liveness check	£0 if you deposit or hold £10,000 a month, otherwise £19
ANNA	Yes	Not stated on the pricing page	£0, pay for what you use
HSBC Small Business Banking	Yes	UK tax resident; credit check	£0
Incard	Yes	Registered with your local authority; UK or Swiss address	£0
Mettle	Yes	One account per person	£0
Monzo Business	Yes	UK resident	£0
Revolut	Revolut Pro only	Pro sits in the personal app; registration depends on local rules	Pro: no monthly fee
Starling	Yes	Not in a partnership; UTR if you have one	£0
Tide	Yes	UK home address registered with HMRC; not in a partnership	£0
Wise Business	Yes	Business details and addresses, plus personal details of the person applying	No monthly fee (£50 for account details)

Not registered yet?

Incard asks sole traders to be registered with their local authority, and Tide wants your home address registered with HMRC. Starling says you can apply without a Unique Taxpayer Reference, and Revolut says Pro can be used if you're not registered in your local business registry, depending on regional requirements.

Cashback for sole traders

Incard: 1% on advertising, recurring software and travel and 0.5% on other eligible spend on the £0 Free plan. Sole traders get the same plans as companies.
Revolut Pro: up to 1%, depending on your personal Revolut plan; 0.4% on Standard and Plus.
Tide: 0.5%, up to £200 a month, on the £69.99 Max plan only.

Cashback only matters if you spend a fair amount on the card. At £500 a month it is a few pounds. The cashback calculator shows Incard's figures for your spending.

Bank or e-money

Starling, Monzo, HSBC, Mettle and Tide (through ClearBank) are bank accounts with FSCS cover. Incard, ANNA, Wise and Airwallex are e-money accounts that safeguard your money instead. Our e-money vs bank account guide explains the difference.

Sources

All checked on 8 November 2026. Where a provider's help centre or legal terms differ from its marketing pages, we follow the help centre and terms.