RentalBux vs. Coconut
Which MTD Software Is Better for UK Landlords?
Overall Winner: RentalBux
RentalBux is the more complete MTD software for UK landlords and sole traders. It combines full Making Tax Digital compliance across UK property income, foreign property income, and self-employment income with comprehensive property management, automated bookkeeping, AI-driven expense categorisation, joint ownership profit-splitting, and a free plan for single-property landlords until March 2028. Coconut (now rebranded as !Coconut and part of the GoSimpleTax family) is a genuinely strong alternative for sole traders and simple landlords who want a mobile-first, no-fuss approach to MTD compliance. It supports all three qualifying income types, connects to over 25 UK banks, and offers a free option via its Zempler Bank partnership. However, Coconut is deliberately simple by design — it has no property portfolio management, no tenant management, no joint ownership profit-splitting, no HMO support, and no formal accounting structure. For landlords who need more than basic compliance, RentalBux is the stronger and more scalable choice.
At-a-Glance MTD Software Comparison
Key differences between RentalBux and Coconut across MTD compliance, property management, bookkeeping, pricing, and landlord-specific features.
| Feature | RentalBux | Coconut |
|---|---|---|
| Software Type | Property/Landlord Platform | Mobile-First Tax & Bookkeeping App |
| Target Users | Landlords, Sole Traders, Letting Agents | Sole Traders, Unincorporated Landlords |
| Income Sources Supported | Sole Trader + UK Property + Foreign Property | Sole Trader + UK Property + Foreign Property |
| Free MTD Software Plan | Free until March 2028 (1 property) | Free for 2 years via Zempler Bank partnership; 14-day trial otherwise |
| MTD Quarterly Updates to HMRC | Yes | Yes |
| Final Declaration | Yes | Yes |
| Bank Reconciliation | Yes | Yes |
| Automated Bank Feeds | Yes | Yes |
| Invoice Creation | Yes | Yes |
| Receipt Capture (OCR) | Yes | Yes |
| Expense Auto-Categorisation | Coming soon | Yes |
| Property Portfolio Management | Yes | No |
| Tenant Management | Yes | No |
| Joint Ownership & Profit Sharing | Yes | No |
| Payroll | No | No |
| HMO Unit-Level Tracking | Yes | |
| HMRC SA105 Box Pre-Mapping | Yes | |
| Spreadsheet Import/Export | Yes | No |
| Platform | Web, iOS, Android | Web, iOS, Android |
| GDPR Compliant | Yes | Yes |
What Is RentalBux? What Is Coconut?
What Is RentalBux?
All-in-One MTD Software for Landlords and Sole Traders
RentalBux is an all-in-one property management, accounting, and Making Tax Digital compliance platform built specifically for UK landlords, letting agents, and self-employed individuals. Designed with direct input from accountants who specialise in property and sole trader tax, RentalBux covers everything from tenancy management and rent collection to full bookkeeping with a pre-configured chart of accounts tailored to the property sector.
RentalBux is fully HMRC-recognised for Making Tax Digital for Income Tax across all three qualifying income categories: UK property income, foreign property income, and self-employment. This makes it one of the only landlord-specific MTD software platforms that can handle a landlord who also runs a sole trader business, all from a single subscription.
A major differentiator is RentalBux's pricing model: single-property landlords can use the platform completely free until March 2028, making it one of the most affordable HMRC-approved MTD software options for landlords entering the MTD regime.
What Is Coconut?
Bookkeeping Made Easy
Coconut — now rebranded as !Coconut and part of the GoSimpleTax family following its acquisition — is a mobile-first accounting and tax app designed specifically for sole traders and unincorporated landlords. Founded in 2018 in the North West of England and acquired by GoSimpleTax, Coconut is FCA-authorised as an Account Information Services Provider (AISP, FRN: 931194). It connects to over 25 UK banks and credit cards via Open Banking to automatically import and categorise transactions, and is HMRC-recognised for Making Tax Digital for Income Tax.
Coconut's defining philosophy is deliberate simplicity: unlike full accounting platforms, it deliberately avoids complexity, focusing on what sole traders and landlords actually need — clean bank feeds, automatic expense categorisation, receipt scanning, invoice creation, and a running tax estimate. It supports all three qualifying MTD income types: self-employment, UK property, and foreign property.
However, Coconut is built for landlords and sole traders — not limited companies. It does not offer property portfolio management, tenant management, joint ownership tools, a formal chart of accounts, or the accounting depth needed by landlords with complex portfolios. Coconut explicitly positions itself as intentionally simple, describing its approach as "no unnecessary bells and whistles."
Strengths
- Free MTD software for single-property landlords until March 2028
- Handles sole trader + UK property + foreign property income in one platform
- Joint ownership with automatic profit-sharing split by ownership percentage
- Pre-built chart of accounts tailored for landlords and sole traders
- AI-powered expense auto-categorisation and OCR receipt capture
- Agent filing on behalf of landlords — ideal for accountants and letting agents
- Supports HMO properties with auto-created units
Strengths
- HMRC-recognised for all three MTD income types — sole trader, UK property, and foreign property
- Free for 2 years via Zempler Bank partnership (worth up to £238)
- Clean, simple mobile-first app designed for non-accountants
- Real-time running tax estimate throughout the year — no year-end surprises
- Connects to 25+ UK banks and credit cards via FCA-regulated Open Banking
- Receipt scanning and automatic expense categorisation on all plans
- Partner Portal for accountants — GoSimpleTax integration for Self Assessment
- 14-day free trial with no card details required
- FCA-authorised as an Account Information Services Provider
- Tax expert support team including ex-HMRC staff
Limitations
- Newer to market compared to established platforms
- No yield or LTV investment analysis tools
- No MTD for VAT support yet
- Some advanced reporting features still in development
- Limited third-party app integrations
- No offline capability
- No tax liability forecasting feature currently
Limitations
- No property portfolio management or tenant tracking
- No joint ownership or automatic profit-splitting
- No formal chart of accounts or double-entry bookkeeping
- No HMO-specific features
- No VAT returns, payroll, or CIS support
- No multi-currency support
- No built-in cash flow forecasting
- Phone support not available — email and chat only
- Deliberately limited feature set — may not scale for complex portfolios
- No free plan without opening a Zempler bank account
Making Tax Digital Compliance
How RentalBux Handles MTD Compliance
RentalBux supports all three MTD qualifying income categories: sole trader income, UK property income, and foreign property income. This makes it suitable for landlords who also earn self-employment income, eliminating the need for separate software. Most accounts are pre-mapped to HMRC Self-Assessment boxes. RentalBux also supports agent filing, allowing accountants or letting agents to submit MTD returns on behalf of their landlord clients.
How Coconut Handles MTD for Landlords and Sole Traders
Coconut is HMRC-recognised for Making Tax Digital for Income Tax and supports all three qualifying income types: sole trader income, UK property income, and foreign property income. Users can connect their bank accounts via Open Banking, automatically import and categorise transactions, snap and store receipts, and submit quarterly MTD updates directly to HMRC from within the app. A real-time tax estimate is displayed throughout the year so users can set aside funds as they go. The +MTD plan (£129.99/year inc. VAT) is required for quarterly MTD submission and the MTD year-end return. The +Self Assessment plan (£129.99/year inc. VAT) is required for Self Assessment filing, which integrates directly with GoSimpleTax. The Full plan (£159.99/year inc. VAT) combines both MTD and Self Assessment. Accountants can access clients' records via the Coconut Partner Portal and file on their behalf.
| Feature | RentalBux | Coconut |
|---|---|---|
| HMRC Recognised (MTD ITSA) | Yes | Yes |
| MTD Quarterly Updates | Yes | Yes |
| Final Declaration | Yes | Yes |
| Digital Record Keeping | Yes | Yes |
| Digital Links Compliant | Yes | Yes |
| Sole Trader Income | Yes | Yes |
| UK Property Income | Yes | Yes |
| Foreign Property Income | Yes | Yes |
| Multiple Income Streams | Yes | Yes |
| Agent Filing on Behalf | Yes | Yes |
Winner: Tie on MTD breadth; RentalBux for landlord depth. Both platforms support all three qualifying MTD income types, including foreign property — a genuine differentiator versus many competitors. RentalBux has a clear advantage in built-in agent filing and formal property accounting. Coconut has a notable advantage with its real-time tax estimate feature, helping landlords avoid year-end surprises.
Property Management
RentalBux: Property Management
RentalBux provides comprehensive property portfolio management with tenant management, rent tracking, property expense allocation, and support for multiple properties. A standout feature is its joint ownership and profit-sharing capability: landlords can define ownership percentages once, and RentalBux automatically splits rental income and expenses. RentalBux also supports HMO properties, automatically creating individual units.
Coconut: No Built-in Property Management
Coconut supports UK property and foreign property income for MTD purposes and allows landlords to track rental income and expenses per property via its income streams functionality. However, Coconut explicitly positions itself as built for unincorporated landlords with simpler needs — not those requiring full property management. There is no built-in property portfolio management, tenant management, rent tracking dashboard, HMO support, or joint ownership profit-splitting. The app's Income Streams feature enables landlords with multiple properties or mixed income types to keep separate digital records for each income source for MTD submission purposes, but this is distinct from dedicated property management functionality.
Coconut has publicly acknowledged the complexity of joint ownership scenarios for MTD, with its CEO commenting on AccountingWEB about the challenges of multiple-property ownership structures. The platform's approach is to focus on simplicity and let more complex cases be handled through accountant support.
| Feature | RentalBux | Coconut |
|---|---|---|
| Property Portfolio Management | Yes | No |
| Tenant Management | Yes | No |
| Rent Tracking | Yes | |
| Property Expense Allocation | Yes | Yes |
| Multiple Property Support | Yes | Yes |
| HMO Property Support | Yes (auto-creates units) | No |
| Joint Ownership/Profit Sharing | Yes (auto-split by %) | |
| Maintenance Tracking | No | |
| Tenant Screening | No | |
| Compliance Document Alerts | Yes | No |
| Arrears Tracking | No | No |
| Rent Tracking / Schedule | No | |
| Joint Ownership / Profit Sharing | Yes |
Winner: RentalBux — Coconut has no built-in property management features beyond basic income categorisation per source. RentalBux's purpose-built property toolkit — including tenant management, HMO auto-unit creation, and joint ownership profit-splitting — is unmatched for landlords with portfolios of any complexity.
Bookkeeping, Accounting & Digital Record Keeping
RentalBux: Structured Accounting
RentalBux includes a pre-built chart of accounts specifically designed for landlords and sole traders, covering rental income, mortgage interest, insurance, property repairs, professional services, utilities, and tenant deposits. All accounts are pre-mapped to HMRC Self-Assessment boxes. The platform supports cash basis accounting, bank reconciliation, and journal entries.
Coconut: Simple Digital Record Keeping for MTD
Coconut deliberately takes a simplified approach to bookkeeping, avoiding the complexity of formal accounting structures. It connects to over 25 UK banks and credit cards via FCA-regulated Open Banking to automatically import and categorise transactions. Receipts can be photographed and stored against transactions. Income and expenses are categorised into allowable expense types relevant to sole traders and landlords (aligned to SA103 and SA105 categories), but there is no formal chart of accounts, no journal entries, and no double-entry bookkeeping. Coconut provides an instant profit and loss overview, but this is a simplified dashboard view rather than a formal accounting report. The platform's design philosophy is that most sole traders and landlords do not need complex accounting — they need organised, accurate digital records that can be submitted quarterly to HMRC.
| Feature | RentalBux | Coconut |
|---|---|---|
| Cash Basis Accounting | Yes | Yes |
| Chart of Accounts (Pre-built, Landlord-Tailored) | Yes (pre-built + custom) | |
| Journal Entries | Yes | No |
| Bank Reconciliation | Yes | Yes |
| Automated Bank Feeds | Yes (Major UK banks) | Yes |
| Open Banking Integration | Yes | |
| Double-Entry Bookkeeping | Yes | |
| HMRC Box Pre-Mapping | Yes | |
| Xero Integration | No | |
| Spreadsheet Import/Export | Yes | No |
| Digital Record Storage | Yes | |
| Chart of Accounts (Pre-built) | No |
Winner: RentalBux for accounting depth. Coconut's simplified approach is by design — ideal for sole traders and simple landlords who want digital records without accounting complexity. For landlords who need structured bookkeeping, formal reports, and a property-mapped chart of accounts, RentalBux provides significantly more depth.
Invoicing, Expense Tracking
RentalBux: Expense Management
RentalBux includes OCR receipt capture, structured expense tracking with landlord-specific categories, auto-categorisation, invoice creation with customisable branding, and payment tracking with reminders.
Coconut: Simple Invoicing and Mobile Receipt Scanning
Coconut enables users to snap photos of receipts and store them securely in the cloud, attached to the relevant transaction. Automatic expense categorisation is powered by the bank feed connection, with transactions categorised against SA103 (self-employment) and SA105 (property) categories as they are imported. Invoice creation is available on all plans — unlimited, own-branded professional invoices can be created and tracked from the mobile app or web browser. A running tax estimate is updated in real time as income and expenses are recorded, helping landlords and sole traders know how much to set aside monthly. Coconut does not use AI-powered OCR for receipt scanning — it is a photograph-and-store function rather than automated data extraction.
| Feature | RentalBux | Coconut |
|---|---|---|
| Invoice Creation & Sending | Yes | Yes |
| Invoice Customisation/Branding | Yes | Yes |
| Online Payment Collection | Yes | No |
| Payment Tracking/Reminders | Yes | No |
| Expense Tracking | Yes | Yes |
| Receipt Capture (OCR/Photo) | Yes | Yes |
| Expense Categorisation | Yes | Yes |
| Automated Transaction Matching | Yes | |
| Mileage Tracking | No | Yes |
| AI Auto-Categorisation | Coming soon | Yes |
Winner: RentalBux for expense management depth; Coconut for tax visibility. RentalBux's AI-powered OCR receipt capture and landlord-specific expense categories give it the edge for maximising allowable deductions. Coconut's real-time running tax estimate is a genuine advantage over RentalBux for landlords who want to know their tax position throughout the year.
Reporting & Tax Forecasting
RentalBux: Formal Accounting Reports
RentalBux produces structured financial reports including profit & loss statements, balance sheets, journal reports, ledger reports, and trial balances. Smart categorisation helps ensure accuracy.
Coconut: Simple Real-Time Financial Dashboard with Tax Estimate
Coconut provides a clean, real-time financial dashboard showing profit and loss, cashflow, and transaction summaries. Its standout reporting feature is the running tax estimate — an up-to-date calculation of estimated tax owed based on income and expenses recorded so far, updated in real time throughout the year. This helps sole traders and landlords plan ahead and avoid year-end surprises. Coconut does not produce formal accounting statements such as a balance sheet or trial balance.
| Feature | RentalBux | Coconut |
|---|---|---|
| Profit & Loss Report | Yes (formal) | |
| Balance Sheet | Yes | No |
| Trial Balance | Yes | No |
| Dashboard/Overview | Yes | Yes |
| Real-Time Financial Data | Yes | Yes |
| Cash Flow Reporting | No | Yes |
| Tax Estimate/Forecast | Yes | Yes |
| AI-Powered Features | Coming soon | No |
| Profit & Loss Report | Yes |
Winner: RentalBux for formal reports; Coconut for real-time tax visibility. RentalBux leads on formal accounting statements needed for year-end reporting and accountant collaboration. Coconut leads on day-to-day tax awareness through its real-time tax estimate — a practical advantage for sole traders managing their own cash flow.
Collaboration & Mobile Apps
RentalBux's Collaborative Features
RentalBux enables agent filing, which gives accountants and letting agents the ability to submit directly on a landlord's behalf.
Coconut's Collaboration, Accountant Access & Mobile Apps
| Feature | RentalBux | Coconut |
|---|---|---|
| Accountant/Advisor Portal | Yes | Yes |
| Multi-User Access | Yes | Yes |
| Agent Filing on Behalf | Yes | Yes |
| Bank Integration | Yes | Yes |
| Platform | iOS, Android | iOS, Android |
| Web Browser Access | Yes | Yes |
| FCA Regulated | Yes | |
| GDPR Compliant | Yes | Yes |
| FCA Authorised | Yes |
Winner: RentalBux for agent filing flexibility; Coconut for Self Assessment integration. RentalBux's built-in agent filing tool is the more direct route for accountants managing multiple landlord MTD submissions. Coconut's integration with GoSimpleTax creates a compelling end-to-end compliance solution for Self Assessment users transitioning to MTD.
Ease of Use, Support & Security
RentalBux: Guided Workflows
RentalBux uses guided workflows, clear dashboards, and no accounting jargon. The platform offers phone support, email/chat support, and a help centre with guides and knowledge base articles.
Ease of Use, Customer Support & Security
Coconut is designed to be as simple as possible, and this is central to its identity. Its director has described the platform as focused on "what sole traders and landlords actually need" without unnecessary complexity. The Coconut app is well-regarded for its clean mobile experience and non-technical approach. Support is provided via email and chat, with extended hours closer to tax deadlines, and the support team includes ex-HMRC staff with deep tax expertise. Phone support is not available. GoSimpleTax, Coconut's parent company, holds a 4.6-star Trustpilot rating from 2,665+ reviews, with users consistently praising its ease of use and responsive email support. Coconut's own Trustpilot profile is listed under the GoSimpleTax family and rated "Excellent."
| Feature | RentalBux | Coconut |
|---|---|---|
| Phone Support | Yes | No |
| Chat Support | Yes | Yes |
| Email Support | Yes | Yes |
| Help Centre/Knowledge Base | Yes | |
| FCA Regulated | Yes | |
| Enterprise-Grade Security | Yes | Yes |
| Help Centre / Knowledge Base | Yes | |
| FCA Authorised | Yes |
RentalBux Features
Sole Trader Income Support for MTD
RentalBux is one of the few landlord-focused MTD software platforms that supports self-employment income alongside UK and foreign property income within a single account. Landlords who also run a trade, consultancy, or freelance business can manage all quarterly submissions from one dashboard. Landlord Studio covers property income only.
Custom Chart of Accounts for Landlords
A property-tailored chart of accounts covering rental income, mortgage interest, insurance, repairs, utilities, letting agent fees, and more — all pre-mapped to HMRC Self-Assessment boxes. No setup required; the system is ready to use from day one. Landlord Studio has no equivalent.
Agent Filing on Behalf of Landlords
Letting agents and accountants can submit MTD quarterly updates and the Final Declaration on behalf of landlord clients directly from the platform. Landlord Studio allows accountant access but does not support submission on the landlord's behalf.
Branded Invoice Creation
Invoice creation with customisable branding for service charges and commercial landlords. Not available in Landlord Studio.
AI-Powered OCR Receipt Capture with Auto-Categorisation (Coming soon)
RentalBux's AI will read uploaded receipts and categorise the expense automatically against the pre-built chart of accounts. Landlord Studio's Smart Scan extracts dates and amounts but does not include AI-driven expense categorisation.
Formal Accounting Reports
Balance sheet, trial balance, ledger reports, and journal reports. Landlord Studio does not produce these natively.
Free Plan Including MTD Submissions Until March 2028
RentalBux's free single-property plan includes MTD quarterly submissions. Landlord Studio's free GO plan covers property management for up to three units but requires a paid PRO plan (from £12/month) to access MTD submission functionality.
Features Only Coconut Offers
Real-Time Running Tax Estimate
oconut displays an up-to-date estimate of the user's tax bill, updated continuously as income and expenses are recorded throughout the year. This is one of Coconut's most praised features — it removes year-end surprises and helps landlords and sole traders know exactly how much to set aside for tax at any point.
GoSimpleTax Integration for Self Assessment
Coconut integrates directly with GoSimpleTax, which holds a 4.6-star Trustpilot rating from 2,665+ reviews, to provide a seamless end-to-end compliance pathway — from quarterly MTD record keeping through to Self Assessment filing. The +Self Assessment plan (£129.99/year inc. VAT) unlocks this integration. GoSimpleTax supports all SA forms including SA100 (basic return), SA105 (property income), SA106 (foreign income), and SA103 (self-employment).
Personal Bank Account Connection
Coconut explicitly supports connecting personal bank accounts — not just business accounts. This is valuable for sole traders and landlords who use their personal accounts for business transactions, as Coconut allows them to sort and separate business from personal transactions within the app. RentalBux is focused on business/property bank account connections.
Zempler Bank Partnership — Free for 2 Years
Coconut's partnership with Zempler Bank (formerly Cashplus Bank, a FCA-regulated digital bank) allows sole traders who open a qualifying Zempler business account to access Coconut's standard MTD software subscription free for up to 24 months — worth up to £238. This is a genuinely compelling free option for sole traders and simple landlords who are also looking for a dedicated business bank account ahead of MTD.
Purpose-Built for Non-Accountants — Deliberate Simplicity
Coconut's deliberate simplicity is a feature for the many sole traders and landlords who find full accounting software overwhelming. Its director has explicitly stated that the platform focuses on "what sole traders and landlords actually need — no unnecessary bells and whistles." For users intimidated by accounting jargon, dashboards, and complex settings, Coconut's clean interface is a genuine advantage.
Extensive Tax Support Including Ex-HMRC Staff
Coconut's support team includes tax specialists with over 30 years of experience in tax and Self Assessment, including ex-HMRC staff. Extended support hours are offered closer to key filing deadlines. This tax-specific expertise is a distinctive feature for sole traders and landlords who want human guidance as well as software.
Who Should Choose RentalBux?
RentalBux is a strong fit if you:
Landlords with Mixed Income Streams
If you earn from both property and self-employment, RentalBux handles sole trader income alongside UK and foreign property income in a single MTD-compliant platform.
Joint Owners and Family Portfolios
The automated profit-sharing split is a standout feature. Define ownership percentages once and RentalBux calculates each owner's share automatically.
Budget-Conscious Landlords Entering MTD
Free MTD software for single-property landlords until March 2028, with no upfront commitment.
Landlords Who Want Proper Accounting Structure
Chart of accounts, journal entries, profit & loss, balance sheet, and trial balance give RentalBux a structured accounting foundation.
Accountants and Letting Agents
Agent filing on behalf, multi-user access, and spreadsheet import make RentalBux practical for professionals managing multiple landlord portfolios.
Commercial Landlords and HMO Owners
Invoice creation with branding for service charges, plus automatic HMO unit creation and tenant management.
Who Should Choose Coconut?
Coconut is the better choice for:
Simple Landlords and Sole Traders Who Want Minimum Fuss
If you have a straightforward income structure — one or two properties, or a single self-employment income stream — and want an app that handles MTD compliance without any accounting complexity, Coconut is purpose-designed for exactly this scenario.
Sole Traders and Landlords Opening a Business Bank Account
If you need a dedicated business bank account alongside your MTD software, Coconut's partnership with Zempler Bank offers both — free for two years — making it a compelling combined solution for those without an existing business account.
Landlords Who Want a Real-Time Tax Estimate
If knowing your estimated tax bill throughout the year (rather than at year-end) is a priority, Coconut's running tax estimate is a genuinely useful feature.
GoSimpleTax Users Transitioning to MTD
If you already use GoSimpleTax for Self Assessment and want a seamless transition to MTD quarterly reporting, Coconut is the natural next step — the two products are integrated and designed to work together end-to-end.
Sole Traders Who Prefer Mobile-First App Experiences
Coconut's mobile app is well-regarded for its simplicity and clean design. For sole traders who manage their finances primarily from their phone, Coconut's lightweight approach is more practical than a full accounting platform.